filename
stringlengths 18
19
| title
stringlengths 7
950
| abstract
stringlengths 105
36k
| @id
stringlengths 71
788
| sameAs
stringlengths 6
866
| text
stringlengths 285
36.2k
|
|---|---|---|---|---|---|
3A1831643766.jsonld | ['Author Index'] | ["This chapter is an index to the names of the authors who have contributed towards this publication titled Handbook of Development Economics, volume 4. The chapter also highlights the page numbers where author's names appear in the text."] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643766'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Author Index']
### Abstract:
["This chapter is an index to the names of the authors who have contributed towards this publication titled Handbook of Development Economics, volume 4. The chapter also highlights the page numbers where author's names appear in the text."]
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643766']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A1831643790.jsonld | ['Chapter 62 Evaluating Conditional Schooling and Health Programs'] | ['We analyze in this chapter the development and evaluation of a new genre of social programs termed conditional cash transfer programs which have become widespread across Latin America and are now extending outside the region. Conditional transfer programs typically link monetary transfers to human capital investment, generally education, health or a combination of both. These transfer programs are considered innovative because they condition the receipt of monetary benefits on such behaviors as regular school attendance and preventive clinic visits. Effectively they are a subsidy to schooling and health, reducing the shadow price of human capital acquisition. We focus here primarily on a case study of Progresa (the Education, Health and Nutrition Program), a Mexican anti-poverty program which has served as a model for the implementation of conditional programs in other countries, and on which most evidence exists on impacts. We also review results from the newer conditional cash transfer programs. The chapter thus analyzes what we know about the success of conditional cash transfer programs as a mechanism for reducing poverty and identifies what research which is still needed in order for broader conclusions to be drawn.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643790'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Chapter 62 Evaluating Conditional Schooling and Health Programs']
### Abstract:
['We analyze in this chapter the development and evaluation of a new genre of social programs termed conditional cash transfer programs which have become widespread across Latin America and are now extending outside the region. Conditional transfer programs typically link monetary transfers to human capital investment, generally education, health or a combination of both. These transfer programs are considered innovative because they condition the receipt of monetary benefits on such behaviors as regular school attendance and preventive clinic visits. Effectively they are a subsidy to schooling and health, reducing the shadow price of human capital acquisition. We focus here primarily on a case study of Progresa (the Education, Health and Nutrition Program), a Mexican anti-poverty program which has served as a model for the implementation of conditional programs in other countries, and on which most evidence exists on impacts. We also review results from the newer conditional cash transfer programs. The chapter thus analyzes what we know about the success of conditional cash transfer programs as a mechanism for reducing poverty and identifies what research which is still needed in order for broader conclusions to be drawn.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643790']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A1831643820.jsonld | ['Chapter 59 Evaluating Anti-Poverty Programs'] | ['The chapter critically reviews the methods available for the ex post counterfactual analysis of programs that are assigned exclusively to individuals, households or locations. The emphasis is on the problems encountered in applying these methods to anti-poverty programs in developing countries, drawing on examples from actual evaluations. Two main lessons emerge. Firstly, despite the claims of advocates, no single method dominates; rigorous, policy-relevant evaluations should be open-minded about methodology, adapting to the problem, setting and data constraints. Secondly, future efforts to draw useful lessons from evaluations call for more policy-relevant data and methods than used in the classic assessment of mean impact for those assigned to the program.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643820'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Chapter 59 Evaluating Anti-Poverty Programs']
### Abstract:
['The chapter critically reviews the methods available for the ex post counterfactual analysis of programs that are assigned exclusively to individuals, households or locations. The emphasis is on the problems encountered in applying these methods to anti-poverty programs in developing countries, drawing on examples from actual evaluations. Two main lessons emerge. Firstly, despite the claims of advocates, no single method dominates; rigorous, policy-relevant evaluations should be open-minded about methodology, adapting to the problem, setting and data constraints. Secondly, future efforts to draw useful lessons from evaluations call for more policy-relevant data and methods than used in the classic assessment of mean impact for those assigned to the program.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643820']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A1831643871.jsonld | ['Chapter 54 Health over the Life Course'] | ['In recent years, significant advances have been made in better understanding the complex relationships between health and development. This reflects the combined effects of methodological innovations at both the theoretical and empirical level, the integration of insights from the biological and health sciences into economic analyses as well as improvements in the quantity and quality of data on population health and socio-economic status. To provide a foundation for discussing these advances, we describe static and dynamic models of the evolution of health over the life course in conjunction with the inter-relationships between health, other human capital outcomes and economic prosperity. Facts about health and development at both the aggregate and individual levels are presented along with a discussion of the importance of measurement. We proceed to review the empirical literature with a goal of highlighting emerging lines of scientific inquiry that are likely to have an important impact on the field. We begin with recent work that relates health events in early life, including in utero, to health, human capital and economic success in later life. We then turn to adult health and its relationship with socio-economic success, exploring the impact of health on economic outcomes and vice versa as well as the links between health and consumption smoothing. Recent evidence from the empirical literature on the micro-level impacts of HIV/AIDS on development is summarized. We conclude that developments on the horizon suggest a very exciting future for scientific research in this area.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643871'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Chapter 54 Health over the Life Course']
### Abstract:
['In recent years, significant advances have been made in better understanding the complex relationships between health and development. This reflects the combined effects of methodological innovations at both the theoretical and empirical level, the integration of insights from the biological and health sciences into economic analyses as well as improvements in the quantity and quality of data on population health and socio-economic status. To provide a foundation for discussing these advances, we describe static and dynamic models of the evolution of health over the life course in conjunction with the inter-relationships between health, other human capital outcomes and economic prosperity. Facts about health and development at both the aggregate and individual levels are presented along with a discussion of the importance of measurement. We proceed to review the empirical literature with a goal of highlighting emerging lines of scientific inquiry that are likely to have an important impact on the field. We begin with recent work that relates health events in early life, including in utero, to health, human capital and economic success in later life. We then turn to adult health and its relationship with socio-economic success, exploring the impact of health on economic outcomes and vice versa as well as the links between health and consumption smoothing. Recent evidence from the empirical literature on the micro-level impacts of HIV/AIDS on development is summarized. We conclude that developments on the horizon suggest a very exciting future for scientific research in this area.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643871']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A183164388X.jsonld | ['Chapter 53 Health Economics for Low-Income Countries'] | ['Good health is a determinant of economic growth and a component of the well-being of the population. This chapter discusses and synthesizes economic models of individual and household behavior, showing how the models may be used to illuminate health policy making in low-income countries. The models presented could help address questions such as: How can the health of the poor be improved, and what are the economic consequences of better health? What policies would improve intra-household distribution of health outcomes? It is argued that health economics research can provide information of relevance to health policies in low-income countries, if it were to take into account specific institutional contexts in which economic agents in these countries operate. Although institutions are universal, their type and extent of development differ across countries, and differ as well, in their effects on economic behavior. An important mechanism by which institutions affect health is through their effects on demand for health production inputs. Cooperative and noncooperative household models for analyzing intra-family allocations of health production inputs are reviewed, stressing the role institutions play in accounting for differences in levels of health and health care among individuals and across countries. Next, examples of application of nonexperimental and experimental approaches to estimation of economic and social impacts of better health in low-income countries are presented. Two main results emerge from the examples. First, health in low-income countries can be improved through implementation of simple interventions, such as provision of communities with basic social services, supplementation of normal household diets with micronutrients, deworming of school children, and cash transfers to families conditional on illness prevention and health promotion behaviors. Second, there are large returns to health investments. However, since placement and utilization of health interventions may not be random with respect to health status (clinics for instance may be constructed in high morbidity villages and then used more intensively by educated people with fewer health problems than illiterate individuals), estimated direct impacts of better health may be contaminated by indirect effects of other factors. The chapter shows how IV regression methods and randomized experiments have been used to resolve this endogeneity problem. Since its emergence as a disease in 1981, HIV/AIDS has become a major health problem in low-income countries, especially in Africa. The chapter illustrates how information generated by demand for HIV counseling and testing can be used to control the disease through mechanisms such as: treating pregnant women to reduce the risk of transmitting the virus from mother to child, targeting preventive measures and messages to individuals according to their HIV status, and timely treatment of AIDS-patients. Issues of industrial organization of health care, such as public provision of treatment, managed care, and national health insurance are briefly considered. The chapter concludes with a discussion of policy options for improving health in low-income countries.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164388X'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Chapter 53 Health Economics for Low-Income Countries']
### Abstract:
['Good health is a determinant of economic growth and a component of the well-being of the population. This chapter discusses and synthesizes economic models of individual and household behavior, showing how the models may be used to illuminate health policy making in low-income countries. The models presented could help address questions such as: How can the health of the poor be improved, and what are the economic consequences of better health? What policies would improve intra-household distribution of health outcomes? It is argued that health economics research can provide information of relevance to health policies in low-income countries, if it were to take into account specific institutional contexts in which economic agents in these countries operate. Although institutions are universal, their type and extent of development differ across countries, and differ as well, in their effects on economic behavior. An important mechanism by which institutions affect health is through their effects on demand for health production inputs. Cooperative and noncooperative household models for analyzing intra-family allocations of health production inputs are reviewed, stressing the role institutions play in accounting for differences in levels of health and health care among individuals and across countries. Next, examples of application of nonexperimental and experimental approaches to estimation of economic and social impacts of better health in low-income countries are presented. Two main results emerge from the examples. First, health in low-income countries can be improved through implementation of simple interventions, such as provision of communities with basic social services, supplementation of normal household diets with micronutrients, deworming of school children, and cash transfers to families conditional on illness prevention and health promotion behaviors. Second, there are large returns to health investments. However, since placement and utilization of health interventions may not be random with respect to health status (clinics for instance may be constructed in high morbidity villages and then used more intensively by educated people with fewer health problems than illiterate individuals), estimated direct impacts of better health may be contaminated by indirect effects of other factors. The chapter shows how IV regression methods and randomized experiments have been used to resolve this endogeneity problem. Since its emergence as a disease in 1981, HIV/AIDS has become a major health problem in low-income countries, especially in Africa. The chapter illustrates how information generated by demand for HIV counseling and testing can be used to control the disease through mechanisms such as: treating pregnant women to reduce the risk of transmitting the virus from mother to child, targeting preventive measures and messages to individuals according to their HIV status, and timely treatment of AIDS-patients. Issues of industrial organization of health care, such as public provision of treatment, managed care, and national health insurance are briefly considered. The chapter concludes with a discussion of policy options for improving health in low-income countries.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164388X']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A1831643898.jsonld | ["Chapter 52 Population Policies, Fertility, Women's Human Capital, and Child Quality"] | ['Population policies are defined here as voluntary programs which help people control their fertility and expect to improve their lives. There are few studies of the long-run effects of policy-induced changes in fertility on the welfare of women, such as policies that subsidize the diffusion and use of best practice birth control technologies. Evaluation of the consequences of such family planning programs almost never assess their long-run consequences, such as on labor supply, savings, or investment in the human capital of children, although they occasionally estimate the short-run association with the adoption of contraception or age-specific fertility. The dearth of long-run family planning experiments has led economists to consider instrumental variables as a substitute for policy interventions which not only determine variation in fertility but are arguably independent of the reproductive preferences of parents or unobserved constraints that might influence family life cycle behaviors. Using these instrumental variables to estimate the effect of this exogenous variation in fertility on family outcomes, economists discover these “cross effects” of fertility on family welfare outcomes tend to be substantially smaller in absolute magnitude than the OLS estimates of partial correlations referred to in the literature as evidence of the beneficial social externalities associated with the policies that reduce fertility. The paper summarizes critically the empirical literature on fertility and development and proposes an agenda for research on the topic.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643898'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ["Chapter 52 Population Policies, Fertility, Women's Human Capital, and Child Quality"]
### Abstract:
['Population policies are defined here as voluntary programs which help people control their fertility and expect to improve their lives. There are few studies of the long-run effects of policy-induced changes in fertility on the welfare of women, such as policies that subsidize the diffusion and use of best practice birth control technologies. Evaluation of the consequences of such family planning programs almost never assess their long-run consequences, such as on labor supply, savings, or investment in the human capital of children, although they occasionally estimate the short-run association with the adoption of contraception or age-specific fertility. The dearth of long-run family planning experiments has led economists to consider instrumental variables as a substitute for policy interventions which not only determine variation in fertility but are arguably independent of the reproductive preferences of parents or unobserved constraints that might influence family life cycle behaviors. Using these instrumental variables to estimate the effect of this exogenous variation in fertility on family outcomes, economists discover these “cross effects” of fertility on family welfare outcomes tend to be substantially smaller in absolute magnitude than the OLS estimates of partial correlations referred to in the literature as evidence of the beneficial social externalities associated with the policies that reduce fertility. The paper summarizes critically the empirical literature on fertility and development and proposes an agenda for research on the topic.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643898']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A183164391X.jsonld | ['Chapter 50 Understanding Political Corruption in Low Income Countries'] | ['Building on the large and growing empirical literature on the political behavior of individuals in low income countries, this Chapter seeks to understand corruption through the lens of political economy – particularly in terms of the political and economic differences between rich and poor countries. Our focus is on the political behavior of individuals exposed to democratic political institutions. We review the existing literature on the determinants of individual political behavior to ask whether we can understand the choice of political actors to be corrupt and, importantly, of other individuals to permit it, as a rational response to the social or the economic environment they inhabit. We also discuss the implications of this view of corruption for anti-corruption policies.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164391X'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Chapter 50 Understanding Political Corruption in Low Income Countries']
### Abstract:
['Building on the large and growing empirical literature on the political behavior of individuals in low income countries, this Chapter seeks to understand corruption through the lens of political economy – particularly in terms of the political and economic differences between rich and poor countries. Our focus is on the political behavior of individuals exposed to democratic political institutions. We review the existing literature on the determinants of individual political behavior to ask whether we can understand the choice of political actors to be corrupt and, importantly, of other individuals to permit it, as a rational response to the social or the economic environment they inhabit. We also discuss the implications of this view of corruption for anti-corruption policies.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164391X']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A1831643979.jsonld | ['Chapter 38 Institutions and economic development'] | ['This chapter discusses two propositions: (1) institutions matter and (2) the determinants of institutions susceptible to the tools of economic analysis. Transaction costs include the direct costs of obtaining information, negotiating among the parties to an agreement, and communicating all relevant provisions to the parties, as well as the indirect costs arising from the opportunistic behavior of economic entities in light of imperfect information and risks. The theory of collective action relates to the question of under what conditions is it advantageous for individual entities to participate in the collective action for development of new or modified institutions given the distribution of expected costs and benefits to the individual innovators and the possible externality and/or free rider problems. Research on institutions and institutional change in a country may contribute not only to the development of economic theory in general, but also to that of institutional reforms in that country.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643979'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Chapter 38 Institutions and economic development']
### Abstract:
['This chapter discusses two propositions: (1) institutions matter and (2) the determinants of institutions susceptible to the tools of economic analysis. Transaction costs include the direct costs of obtaining information, negotiating among the parties to an agreement, and communicating all relevant provisions to the parties, as well as the indirect costs arising from the opportunistic behavior of economic entities in light of imperfect information and risks. The theory of collective action relates to the question of under what conditions is it advantageous for individual entities to participate in the collective action for development of new or modified institutions given the distribution of expected costs and benefits to the individual innovators and the possible externality and/or free rider problems. Research on institutions and institutional change in a country may contribute not only to the development of economic theory in general, but also to that of institutional reforms in that country.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643979']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A1831643995.jsonld | ['Chapter 36 Savings, credit and insurance'] | ['This chapter surveys and synthesizes the issues for developing economies. Two features of developing economies are particularly germane to the link between savings and insurance. The absence of markets for trading in risks is particularly noticeable. Many insurance possibilities are not traded in developed countries. The fraction of the population is typically dependent on agricultural income for their livelihood. The chapter studies the life-cycle/permanent income models that incorporate precautionary savings and liquidity constraints. The huge diversity in insurance and credit arrangements in developing countries is quite bewildering. Understanding the limits and potential of these is an important step towards a better appreciation of the factors that influence financial development. The approach suggested in the chapter is two-prongedthe gains from trade exploited by a particular institutional structure can be enquired about along with the way by which trade is sustained.'] | ['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643995'] | ['Wirtschaftsentwicklung', 'Entwicklungsökonomie'] | Document
### Title: ['Chapter 36 Savings, credit and insurance']
### Abstract:
['This chapter surveys and synthesizes the issues for developing economies. Two features of developing economies are particularly germane to the link between savings and insurance. The absence of markets for trading in risks is particularly noticeable. Many insurance possibilities are not traded in developed countries. The fraction of the population is typically dependent on agricultural income for their livelihood. The chapter studies the life-cycle/permanent income models that incorporate precautionary savings and liquidity constraints. The huge diversity in insurance and credit arrangements in developing countries is quite bewildering. Understanding the limits and potential of these is an important step towards a better appreciation of the factors that influence financial development. The approach suggested in the chapter is two-prongedthe gains from trade exploited by a particular institutional structure can be enquired about along with the way by which trade is sustained.']
### GND ID:
['gnd:4066438-7', 'gnd:4213090-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831643995']
### GND class:
['Wirtschaftsentwicklung', 'Entwicklungsökonomie']
<|eot_id|> |
3A183164407X.jsonld | ['Subject index'] | ['This chapter highlights the terms and methods that have been used and explained in this publication titled Labor Economics, volume 3C. The chapter also highlights the page numbers where these have been used.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164407X'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Subject index']
### Abstract:
['This chapter highlights the terms and methods that have been used and explained in this publication titled Labor Economics, volume 3C. The chapter also highlights the page numbers where these have been used.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164407X']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644088.jsonld | ['Author index'] | ['This chapter lists the names of the persons who have directly or indirectly contributed towards this publication titled Labor Economics, volume 3C.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644088'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Author index']
### Abstract:
['This chapter lists the names of the persons who have directly or indirectly contributed towards this publication titled Labor Economics, volume 3C.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644088']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644096.jsonld | ['Chapter 53 Recent developments in public sector labor markets'] | ['This chapter reviews recent developments in research on public sector labor markets. Public sector labor markets have two important characteristics which account for the interest in their operation. First, public sector labor markets are large — in most developed countries the public sector workforce accounts for over 15% of total employment. Second, public sector labor markets are different from private sector labor markets. Most importantly, politicians or bureaucrats may have objectives which differ from those of the owners of private sector firms; and the political system can allow scope for achieving those objectives where a market system would not. The introductory sections of the chapter present a simple conceptual framework for thinking about the operation of public sector labor markets, and background information on a range of key characteristics of public sector labor markets such as union structure and the institutional environment for wage bargaining. The main sections summarize a variety of research relating to earnings and employment outcomes in public sector labor markets. First, studies which compare average earnings outcomes of public sector and private sector employees in a range of countries are reviewed. Second, studies of the determinants of earnings of local government employees in the United States are described. Third, various information on the earnings structure and distribution of earnings in the public sector and private sector is presented. Fourth, studies of the level and composition of public sector employment are summarized. A concluding section presents an overview of the main findings and themes from research on public sector labor markets, and suggests topics for future research.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644096'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 53 Recent developments in public sector labor markets']
### Abstract:
['This chapter reviews recent developments in research on public sector labor markets. Public sector labor markets have two important characteristics which account for the interest in their operation. First, public sector labor markets are large — in most developed countries the public sector workforce accounts for over 15% of total employment. Second, public sector labor markets are different from private sector labor markets. Most importantly, politicians or bureaucrats may have objectives which differ from those of the owners of private sector firms; and the political system can allow scope for achieving those objectives where a market system would not. The introductory sections of the chapter present a simple conceptual framework for thinking about the operation of public sector labor markets, and background information on a range of key characteristics of public sector labor markets such as union structure and the institutional environment for wage bargaining. The main sections summarize a variety of research relating to earnings and employment outcomes in public sector labor markets. First, studies which compare average earnings outcomes of public sector and private sector employees in a range of countries are reviewed. Second, studies of the determinants of earnings of local government employees in the United States are described. Third, various information on the earnings structure and distribution of earnings in the public sector and private sector is presented. Fourth, studies of the level and composition of public sector employment are summarized. A concluding section presents an overview of the main findings and themes from research on public sector labor markets, and suggests topics for future research.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644096']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644142.jsonld | ['Chapter 49 New developments in the economic analysis of retirement'] | ["The world's population is living longer but retiring earlier, and vast numbers of adults now spend as much as a third of their lifetimes relying on public and private retirement benefits. Consequently, labor economists are deeply interested in the forces driving retirement behavior, seeking to understand why people leave their jobs at young ages, how employers respond to an aging workforce, how government programs often induce job-leaving, and the economic consequences of retirement for individuals and society. This chapter examines new developments in retirement economics, focusing first on retirement trends and retiree wellbeing. We next turn to theoretical developments in the retirement literature where new models have enriched our understanding of the role of worker heterogeneity and uncertainty about health and productivity shocks. Lastly, we review some of the lessons that may drawn from the empirical analysis of retirement patterns undertaken over the last decade, showing how natural experiments and exciting new longitudinal datasets afford new opportunities to learn about the demand for and supply of older workers. We conclude that future researchers would do well to explore how retirement decisions are made in a household context, and to integrate saving as well as consumption in the labor supply decision. In addition we argue that much remains to be learned about how workers form expectations regarding their future retirement wellbeing, and about how they adapt when expectations need to be adjusted due to changes in economic, health, family, and other circumstances."] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644142'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 49 New developments in the economic analysis of retirement']
### Abstract:
["The world's population is living longer but retiring earlier, and vast numbers of adults now spend as much as a third of their lifetimes relying on public and private retirement benefits. Consequently, labor economists are deeply interested in the forces driving retirement behavior, seeking to understand why people leave their jobs at young ages, how employers respond to an aging workforce, how government programs often induce job-leaving, and the economic consequences of retirement for individuals and society. This chapter examines new developments in retirement economics, focusing first on retirement trends and retiree wellbeing. We next turn to theoretical developments in the retirement literature where new models have enriched our understanding of the role of worker heterogeneity and uncertainty about health and productivity shocks. Lastly, we review some of the lessons that may drawn from the empirical analysis of retirement patterns undertaken over the last decade, showing how natural experiments and exciting new longitudinal datasets afford new opportunities to learn about the demand for and supply of older workers. We conclude that future researchers would do well to explore how retirement decisions are made in a household context, and to integrate saving as well as consumption in the labor supply decision. In addition we argue that much remains to be learned about how workers form expectations regarding their future retirement wellbeing, and about how they adapt when expectations need to be adjusted due to changes in economic, health, family, and other circumstances."]
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644142']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644150.jsonld | ['Chapter 48 Race and gender in the labor market'] | ['This chapter summarizes recent research in economics that investigates differentials by race and gender in the labor market. We start with a statistical overview of the trends in labor market outcomes by race, gender and Hispanic origin, including some simple regressions on the determinants of wages and employment. This is followed in Section 3 by an extended review of current theories about discrimination in the labor market, including recent extensions of taste-based theories, theories of occupational exclusion, and theories of statistical discrimination. Section 4 discusses empirical research that provides direct evidence of discrimination in the labor market, beyond “unexplained gaps” in wage or employment regressions. The remainder of the chapter reviews the evidence on race and gender gaps, particularly wage gaps. Section 5 reviews research on the impact of pre-market human capital differences in education and family background that differ by race and gender. Section 6 reviews the impact of differences in both the levels and the returns to experience and seniority, with discussion of the role of training and labor market search and turnover on race and gender differentials. Section 7 reviews the role of job characteristics (particularly occupational characteristics) in the gender wage gap. Section 8 reviews the smaller literature on differences in fringe benefits by gender. Section 9 is an extensive discussion of the empirical work that accounts for changes in the trends in race and gender differentials over time. Of particular interest is the new research literature that investigates the impact of widening wage inequality on race and gender wage gaps. Section 10 reviews research that relates policy changes to race and gender differentials, including anti-discrimination policy. The chapter concludes with comments about a future research agenda.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644150'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 48 Race and gender in the labor market']
### Abstract:
['This chapter summarizes recent research in economics that investigates differentials by race and gender in the labor market. We start with a statistical overview of the trends in labor market outcomes by race, gender and Hispanic origin, including some simple regressions on the determinants of wages and employment. This is followed in Section 3 by an extended review of current theories about discrimination in the labor market, including recent extensions of taste-based theories, theories of occupational exclusion, and theories of statistical discrimination. Section 4 discusses empirical research that provides direct evidence of discrimination in the labor market, beyond “unexplained gaps” in wage or employment regressions. The remainder of the chapter reviews the evidence on race and gender gaps, particularly wage gaps. Section 5 reviews research on the impact of pre-market human capital differences in education and family background that differ by race and gender. Section 6 reviews the impact of differences in both the levels and the returns to experience and seniority, with discussion of the role of training and labor market search and turnover on race and gender differentials. Section 7 reviews the role of job characteristics (particularly occupational characteristics) in the gender wage gap. Section 8 reviews the smaller literature on differences in fringe benefits by gender. Section 9 is an extensive discussion of the empirical work that accounts for changes in the trends in race and gender differentials over time. Of particular interest is the new research literature that investigates the impact of widening wage inequality on race and gender wage gaps. Section 10 reviews research that relates policy changes to race and gender differentials, including anti-discrimination policy. The chapter concludes with comments about a future research agenda.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644150']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644169.jsonld | ['Chapter 47 The causes and consequences of longterm unemployment in Europe'] | ['One of the most striking features of European labor markets is the high incidence of longterm unemployment. In this chapter, we review the literature on its causes and consequences. Our main conclusions are that: the rise in the incidence of longterm unemployment has been “caused” by a collapse of outflow rates at all durations of unemployment; while the longterm unemployed do leave unemployment at a slower rate than the shortterm unemployed, this has always been the case and their relative outflow rate has not fallen over time; there is no evidence that, for a given level of unemployment, the incidence of longterm unemployment has been ratcheting up over time; once one controls for heterogeneity of the unemployed, there is little evidence of outflow rates that decline over a spell of unemployment. While these findings suggest that longterm unemployment is not a problem independent of unemployment itself, one should recognize that the experience of longterm unemployment is a horrid one for those unfortunate enough to experience it.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644169'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 47 The causes and consequences of longterm unemployment in Europe']
### Abstract:
['One of the most striking features of European labor markets is the high incidence of longterm unemployment. In this chapter, we review the literature on its causes and consequences. Our main conclusions are that: the rise in the incidence of longterm unemployment has been “caused” by a collapse of outflow rates at all durations of unemployment; while the longterm unemployed do leave unemployment at a slower rate than the shortterm unemployed, this has always been the case and their relative outflow rate has not fallen over time; there is no evidence that, for a given level of unemployment, the incidence of longterm unemployment has been ratcheting up over time; once one controls for heterogeneity of the unemployed, there is little evidence of outflow rates that decline over a spell of unemployment. While these findings suggest that longterm unemployment is not a problem independent of unemployment itself, one should recognize that the experience of longterm unemployment is a horrid one for those unfortunate enough to experience it.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644169']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644185.jsonld | ['Chapter 45 Microeconomic perspectives on aggregate labor markets'] | ["The chapter discusses the role played by labor market institutions in shaping the dynamics of wages, employment, and unemployment across European countries and the United States. The first part of the chapter uses simple, but formal models to show that the greater job security granted to European employees should smooth out aggregate employment dynamics but, for given wage processes, cannot be expected to reduce aggregate employment. Slow employment creation and high, persistent unemployment are associated with high and increasing wages in cross-country evidence, and the chapter surveys recent work aimed at explaining such differential wage dynamics via insider-outsider interactions and wage bargaining institutions. The following section discusses the extent to which job security provisions and wage-setting practices can rationalize evidence on cross-sectional job turnover and wage inequality, and reviews the implications of such phenomena for aggregate labor markets' productivity. The chapter is concluded by a discussion of recent perspectives on the possible determinants (rather than the effects) of institutional labor market differences across industrialized countries and over time."] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644185'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 45 Microeconomic perspectives on aggregate labor markets']
### Abstract:
["The chapter discusses the role played by labor market institutions in shaping the dynamics of wages, employment, and unemployment across European countries and the United States. The first part of the chapter uses simple, but formal models to show that the greater job security granted to European employees should smooth out aggregate employment dynamics but, for given wage processes, cannot be expected to reduce aggregate employment. Slow employment creation and high, persistent unemployment are associated with high and increasing wages in cross-country evidence, and the chapter surveys recent work aimed at explaining such differential wage dynamics via insider-outsider interactions and wage bargaining institutions. The following section discusses the extent to which job security provisions and wage-setting practices can rationalize evidence on cross-sectional job turnover and wage inequality, and reviews the implications of such phenomena for aggregate labor markets' productivity. The chapter is concluded by a discussion of recent perspectives on the possible determinants (rather than the effects) of institutional labor market differences across industrialized countries and over time."]
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644185']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644193.jsonld | ['Chapter 44 Labor markets and economic growth'] | ['Among macroeconomists, the shift of research effort is near total, eclipsing the business-cycle focus that had dominated the field for decades. Behind this is a recognition of the enormous welfare implications of sustained economic growth, and a renewed desire to understand the vast differences in living standards among countries, which dates back at least to Smith. What some have called the "neoclassical revival" in growth economics has come to dominate macroeconomic research. Developments in this area should be of particular interest to labor economists because much of the revival of growth economics builds on the theory of human capital. Because human capital is, by definition, embodied skills and knowledge, and because advances in technical knowledge drive economic growth, it follows that human capital accumulation and economic growth are intimately related. This chapter reviews recent developments in growth economics, with a particular focus on labor market and human capital issues.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644193'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 44 Labor markets and economic growth']
### Abstract:
['Among macroeconomists, the shift of research effort is near total, eclipsing the business-cycle focus that had dominated the field for decades. Behind this is a recognition of the enormous welfare implications of sustained economic growth, and a renewed desire to understand the vast differences in living standards among countries, which dates back at least to Smith. What some have called the "neoclassical revival" in growth economics has come to dominate macroeconomic research. Developments in this area should be of particular interest to labor economists because much of the revival of growth economics builds on the theory of human capital. Because human capital is, by definition, embodied skills and knowledge, and because advances in technical knowledge drive economic growth, it follows that human capital accumulation and economic growth are intimately related. This chapter reviews recent developments in growth economics, with a particular focus on labor market and human capital issues.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644193']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644274.jsonld | ['Chapter 42 Labor markets in the transitional Central and East European economies'] | ['In this chapter, I survey principal econometric studies of several important labor market issues in Central and East European countries as they launched the transition from central planning to a market economy. The topics covered include employment, wage and fringe benefits determination in firms, individual wages and human capital, determinants of unemployment duration, and matching of the unemployed and vacancies. The studies are of interest because one can observe the functioning of nascent markets and institutions after prices and wages ceased being set by planners. Moreover, the variation in relevant variables has been tremendous, thus permitting the researchers to estimate precisely key parameters.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644274'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 42 Labor markets in the transitional Central and East European economies']
### Abstract:
['In this chapter, I survey principal econometric studies of several important labor market issues in Central and East European countries as they launched the transition from central planning to a market economy. The topics covered include employment, wage and fringe benefits determination in firms, individual wages and human capital, determinants of unemployment duration, and matching of the unemployed and vacancies. The studies are of interest because one can observe the functioning of nascent markets and institutions after prices and wages ceased being set by planners. Moreover, the variation in relevant variables has been tremendous, thus permitting the researchers to estimate precisely key parameters.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644274']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644282.jsonld | ['Chapter 41 Gross job flows'] | ['Market economies experience high rates of job creation and job destruction in almost every time period and sector. Each year, many businesses expand and many others contract. New businesses constantly enter, while others abruptly exit or gradually disappear. Amidst the turbulence of business growth and decline, jobs, workers and capital are continually reallocated among competing activities, organizations and locations. We synthesize the growing body of research on this process, especially as it pertains to the creation and destruction of jobs. We summarize and analyze empirical regularities related to cross-sectional, cross-country and cyclical variation in job flows. We also relate theories of heterogeneity, growth and fluctuations to the large magnitude of job flows and to systematic patterns of cross-sectional and time variation. Other major themes include the connection between job flows and worker flows, creative destruction and the productivity-improving role of factor reallocation, reallocation behavior and consequences in transition economies, and the productivity and welfare effects of policies that impede or encourage job flows.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644282'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 41 Gross job flows']
### Abstract:
['Market economies experience high rates of job creation and job destruction in almost every time period and sector. Each year, many businesses expand and many others contract. New businesses constantly enter, while others abruptly exit or gradually disappear. Amidst the turbulence of business growth and decline, jobs, workers and capital are continually reallocated among competing activities, organizations and locations. We synthesize the growing body of research on this process, especially as it pertains to the creation and destruction of jobs. We summarize and analyze empirical regularities related to cross-sectional, cross-country and cyclical variation in job flows. We also relate theories of heterogeneity, growth and fluctuations to the large magnitude of job flows and to systematic patterns of cross-sectional and time variation. Other major themes include the connection between job flows and worker flows, creative destruction and the productivity-improving role of factor reallocation, reallocation behavior and consequences in transition economies, and the productivity and welfare effects of policies that impede or encourage job flows.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644282']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644290.jsonld | ['Chapter 40 The analysis of labor markets using matched employer-employee data'] | ['Matched employer-employee data contain information collected from households and individuals as well as information collected from businesses or establishments. Both administrative and sample survey sources are considered. Both longitudinal and cross-sectional applications are discussed. We review studies from 17 different countries using 38 different systems for creating the linked data. We provide a detailed discussion of the methods used to create the linked datasets, the statistical and economic models used to analyze these data, and a comprehensive set of results from the different countries. We consider compensation structure, wage and employment mobility, and the relation between firm outcomes and worker characteristics in detail. Matched employer-employee data provide the empirical basis for further refinements of the theory of workplace organization, compensation design, mobility and production; however, the arrival of these data has been relatively recent.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644290'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 40 The analysis of labor markets using matched employer-employee data']
### Abstract:
['Matched employer-employee data contain information collected from households and individuals as well as information collected from businesses or establishments. Both administrative and sample survey sources are considered. Both longitudinal and cross-sectional applications are discussed. We review studies from 17 different countries using 38 different systems for creating the linked data. We provide a detailed discussion of the methods used to create the linked datasets, the statistical and economic models used to analyze these data, and a comprehensive set of results from the different countries. We consider compensation structure, wage and employment mobility, and the relation between firm outcomes and worker characteristics in detail. Matched employer-employee data provide the empirical basis for further refinements of the theory of workplace organization, compensation design, mobility and production; however, the arrival of these data has been relatively recent.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644290']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644339.jsonld | ['Chapter 36 Careers in organizations: Theory and evidence'] | ['We survey the theoretical literature on careers in organizations, focusing on models that address detailed evidence or stylized facts. We begin with what we call building-block models: human-capital acquisition, job assignment, incentive contracting, efficiency wages, and tournaments. We then show how these building blocks can be combined and enriched to address various aspects of careers. We first focus on applied models aimed at outcomes familiar from labor economics: wage growth in the absence of promotions, promotions used for job assignment, promotions used to provide incentives, and separation. We then consider topics more often discussed in human resource management and organization theory than in labor economics: politics, social relations, and work practices. We end by reviewing three models that address broad patterns of detailed evidence rather than a few stylized facts.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644339'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 36 Careers in organizations: Theory and evidence']
### Abstract:
['We survey the theoretical literature on careers in organizations, focusing on models that address detailed evidence or stylized facts. We begin with what we call building-block models: human-capital acquisition, job assignment, incentive contracting, efficiency wages, and tournaments. We then show how these building blocks can be combined and enriched to address various aspects of careers. We first focus on applied models aimed at outcomes familiar from labor economics: wage growth in the absence of promotions, promotions used for job assignment, promotions used to provide incentives, and separation. We then consider topics more often discussed in human resource management and organization theory than in labor economics: politics, social relations, and work practices. We end by reviewing three models that address broad patterns of detailed evidence rather than a few stylized facts.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644339']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644363.jsonld | ['Chapter 33 Firm size and wages'] | ["Jobs differ along many dimensions including firm size. The wage gap due to firm size of 35% is comparable to the gender wage gap of 36% for men over women and greater than the wage gap of 14% for whites over black employees. The size-wage premium is larger for men and varies across industries. It is larger in the US than in other industrialized countries. Large firms demand a higher quality of labor defined by such observable characteristics as education, job tenure, and a higher fraction of full-time workers. Part 3 examines three behavioral explanations. (1) Productive employees are matched with able entrepreneurs to minimize the sum of wages and monitoring costs. (2) Big firms pay efficiency wages to deter shirking. (3) Big firms adopt a discretionary wage policy to share rents, or in Slichter's words, “Wages over a considerable range reflect managerial discretion. When management can easily afford to pay high wages, they tend to do so.” We advance a productivity hypothesis. A large organization sets a higher performance standard that raises labor productivity but has to be supported by a compensating wage difference. In the service industries, the pace of work depends on the customer arrival rate. The economies of massed reserves generates a positive wage-size profile. The capital/labor ratio is higher in bigger firms which also are early in adopting new technologies. Both forces raise the demand for skilled labor where skill and productivity are often unobservable traits. Production organized around teams calls for conformance to common work rules which result in paying rents to infra-marginal team members. The odds of survival are higher for big firms which enable them to “produce” more durable employees who are more productive because they get more training. Firm size is a function of external market forces, technology, managerial decisions, and luck. The surplus of revenues over labor costs per employee is positively related to firm size for three reasons, lower prices for non-labor inputs, possibly greater market power, or larger overhead costs to amortize the sunk costs for capital and firm -specific work force. Rent sharing cannot be dismissed as an explanation for the wage-size premium. Taxation and regulation can also affect the size distribution of firms. The organization of work and the selection of employees (whose productive traits are not always observable) are responsible for the positive relation between wages and employer size."] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644363'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 33 Firm size and wages']
### Abstract:
["Jobs differ along many dimensions including firm size. The wage gap due to firm size of 35% is comparable to the gender wage gap of 36% for men over women and greater than the wage gap of 14% for whites over black employees. The size-wage premium is larger for men and varies across industries. It is larger in the US than in other industrialized countries. Large firms demand a higher quality of labor defined by such observable characteristics as education, job tenure, and a higher fraction of full-time workers. Part 3 examines three behavioral explanations. (1) Productive employees are matched with able entrepreneurs to minimize the sum of wages and monitoring costs. (2) Big firms pay efficiency wages to deter shirking. (3) Big firms adopt a discretionary wage policy to share rents, or in Slichter's words, “Wages over a considerable range reflect managerial discretion. When management can easily afford to pay high wages, they tend to do so.” We advance a productivity hypothesis. A large organization sets a higher performance standard that raises labor productivity but has to be supported by a compensating wage difference. In the service industries, the pace of work depends on the customer arrival rate. The economies of massed reserves generates a positive wage-size profile. The capital/labor ratio is higher in bigger firms which also are early in adopting new technologies. Both forces raise the demand for skilled labor where skill and productivity are often unobservable traits. Production organized around teams calls for conformance to common work rules which result in paying rents to infra-marginal team members. The odds of survival are higher for big firms which enable them to “produce” more durable employees who are more productive because they get more training. Firm size is a function of external market forces, technology, managerial decisions, and luck. The surplus of revenues over labor costs per employee is positively related to firm size for three reasons, lower prices for non-labor inputs, possibly greater market power, or larger overhead costs to amortize the sunk costs for capital and firm -specific work force. Rent sharing cannot be dismissed as an explanation for the wage-size premium. Taxation and regulation can also affect the size distribution of firms. The organization of work and the selection of employees (whose productive traits are not always observable) are responsible for the positive relation between wages and employer size."]
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644363']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A183164438X.jsonld | ['Preface to the handbook'] | ['The subject matter of labor economics continues to have at its core an attempt to systematically find empirical analyses that are consistent with a systematic and parsimonious theoretical understanding of the diverse phenomenon that make up the labor market. As before, many of these analyses are provocative and controversial because they are so directly relevant to both public policy and private decision making. In many ways the modern development in the field of labor economics continues to set the standards for the best work in applied economics. It seems likely that the explosive growth in the development and study of modem labor economics throughout the world will be a major development that will continue throughout the next decade.'] | ['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164438X'] | ['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Preface to the handbook']
### Abstract:
['The subject matter of labor economics continues to have at its core an attempt to systematically find empirical analyses that are consistent with a systematic and parsimonious theoretical understanding of the diverse phenomenon that make up the labor market. As before, many of these analyses are provocative and controversial because they are so directly relevant to both public policy and private decision making. In many ways the modern development in the field of labor economics continues to set the standards for the best work in applied economics. It seems likely that the explosive growth in the development and study of modem labor economics throughout the world will be a major development that will continue throughout the next decade.']
### GND ID:
['gnd:4002733-8', 'gnd:4122827-3', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164438X']
### GND class:
['Arbeitsmarkt', 'Arbeitsmarkttheorie', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644460.jsonld | ['Chapter 31. The Economics and Econometrics of Active Labor Market Programs'] | ['Policy makers view public sector-sponsored employment and training programs and other active labor market policies as tools for integrating the unemployed and economically disadvantaged into the work force. Few public sector programs have received such intensive scrutiny, and been subjected to so many different evaluation strategies. This chapter examines the impacts of active labor market policies, such as job training, job search assistance, and job subsidies, and the methods used to evaluate their effectiveness. Previous evaluations of policies in OECD countries indicate that these programs usually have at best a modest impact on participants’ labor market prospects. But at the same time, they also indicate that there is considerable heterogeneity in the impact of these programs. For some groups, a compelling case can be made that these policies generate high rates of return, while for other groups these policies have had no impact and may have been harmful. Our discussion of the methods used to evaluate these policies has more general interest. We believe that the same issues arise generally in the social sciences and are no easier to address elsewhere. As a result, a major focus of this chapter is on the methodological lessons learned from evaluating these programs. One of the most important of these lessons is that there is no inherent method of choice for conducting program evaluations. The choice between experimental and non-experimental methods or among alternative econometric estimators should be guided by the underlying economic models, the available data, and the questions being addressed. Too much emphasis has been placed on formulating alternative econometric methods for correcting for selection bias and too little given to the quality of the underlying data. Although it is expensive, obtaining better data is the only way to solve the evaluation problem in a convincing way. However, better data are not synonymous with social experiments. © 1999 Elsevier Science B.V. All rights reserved.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644460'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 31. The Economics and Econometrics of Active Labor Market Programs']
### Abstract:
['Policy makers view public sector-sponsored employment and training programs and other active labor market policies as tools for integrating the unemployed and economically disadvantaged into the work force. Few public sector programs have received such intensive scrutiny, and been subjected to so many different evaluation strategies. This chapter examines the impacts of active labor market policies, such as job training, job search assistance, and job subsidies, and the methods used to evaluate their effectiveness. Previous evaluations of policies in OECD countries indicate that these programs usually have at best a modest impact on participants’ labor market prospects. But at the same time, they also indicate that there is considerable heterogeneity in the impact of these programs. For some groups, a compelling case can be made that these policies generate high rates of return, while for other groups these policies have had no impact and may have been harmful. Our discussion of the methods used to evaluate these policies has more general interest. We believe that the same issues arise generally in the social sciences and are no easier to address elsewhere. As a result, a major focus of this chapter is on the methodological lessons learned from evaluating these programs. One of the most important of these lessons is that there is no inherent method of choice for conducting program evaluations. The choice between experimental and non-experimental methods or among alternative econometric estimators should be guided by the underlying economic models, the available data, and the questions being addressed. Too much emphasis has been placed on formulating alternative econometric methods for correcting for selection bias and too little given to the quality of the underlying data. Although it is expensive, obtaining better data is the only way to solve the evaluation problem in a convincing way. However, better data are not synonymous with social experiments. © 1999 Elsevier Science B.V. All rights reserved.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644460']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644479.jsonld | ['Chapter 30. The Causal Effect of Education on Earnings'] | ['This paper surveys the recent literature on the causal relationship between education and earnings. I focus on four areas of work: theoretical and econometric advances in modelling the causal effect of education in the presence of heterogeneous returns to schooling; recent studies that use institutional aspects of the education system to form instrumental variables estimates of the return to schooling; recent studies of the earnings and schooling of twins; and recent attempts to explicitly model sources of heterogeneity in the returns to education. Consistent with earlier surveys of the literature, I conclude that the average (or average marginal) return to education is not much below the estimate that emerges from a standard human capital earnings function fit by OLS. Evidence from the latest studies of identical twins suggests a small upward “ability” bias – on the order of 10%. A consistent finding among studies using instrumental variables based on institutional changes in the education system is that the estimated returns to schooling are 20–40% above the corresponding OLS estimates. Part of the explanation for this finding may be that marginal returns to schooling for certain subgroups – particularly relatively disadvantaged groups with low education outcomes – are higher than the average marginal returns to education in the population as a whole. © 1999 Elsevier Science B.V. All rights reserved.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644479'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 30. The Causal Effect of Education on Earnings']
### Abstract:
['This paper surveys the recent literature on the causal relationship between education and earnings. I focus on four areas of work: theoretical and econometric advances in modelling the causal effect of education in the presence of heterogeneous returns to schooling; recent studies that use institutional aspects of the education system to form instrumental variables estimates of the return to schooling; recent studies of the earnings and schooling of twins; and recent attempts to explicitly model sources of heterogeneity in the returns to education. Consistent with earlier surveys of the literature, I conclude that the average (or average marginal) return to education is not much below the estimate that emerges from a standard human capital earnings function fit by OLS. Evidence from the latest studies of identical twins suggests a small upward “ability” bias – on the order of 10%. A consistent finding among studies using instrumental variables based on institutional changes in the education system is that the estimated returns to schooling are 20–40% above the corresponding OLS estimates. Part of the explanation for this finding may be that marginal returns to schooling for certain subgroups – particularly relatively disadvantaged groups with low education outcomes – are higher than the average marginal returns to education in the population as a whole. © 1999 Elsevier Science B.V. All rights reserved.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644479']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644487.jsonld | ['Chapter 29. Intergenerational Mobility in the Labor Market'] | ['This chapter summarizes what has been learned from recent research on intergenerational transmission of earnings status. The chapter begins by using a simple theoretical model to highlight several key concepts. Then it reviews (and discusses the connections among) three related empirical literatures: on sibling correlations in earnings, on the intergenerational elasticity of offspring’s earnings with respect to parents’ earnings or income, and on neighborhood effects. © 1999 Elsevier Science B.V. All rights reserved.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644487'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 29. Intergenerational Mobility in the Labor Market']
### Abstract:
['This chapter summarizes what has been learned from recent research on intergenerational transmission of earnings status. The chapter begins by using a simple theoretical model to highlight several key concepts. Then it reviews (and discusses the connections among) three related empirical literatures: on sibling correlations in earnings, on the intergenerational elasticity of offspring’s earnings with respect to parents’ earnings or income, and on neighborhood effects. © 1999 Elsevier Science B.V. All rights reserved.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644487']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644517.jsonld | ['Chapter 26. Changes in the Wage Structure and Earnings Inequality'] | ['This chapter presents a framework for understanding changes in the wage structure and overall earnings inequality. The framework emphasizes the role of supply and demand factors and the interaction of market forces and labor market institutions. Recent changes in the US wage structure are analyzed in detail to highlight crucial measurement issues that arise in studying wage structure changes and to illustrate the operation of the supply-demand-institution framework. The roles of skill-biased technological change, globalization forces, changes in demographics and relative skill supplies, industry labor rents, unions, and the minimum wage in the evolution of the US wage structure are examined. Recent wage structure changes are placed in a longer-term historical perspective, and differences and similarities in wage structure changes among OECD nations are assessed. © 1999 Elsevier Science B.V. All rights reserved.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644517'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 26. Changes in the Wage Structure and Earnings Inequality']
### Abstract:
['This chapter presents a framework for understanding changes in the wage structure and overall earnings inequality. The framework emphasizes the role of supply and demand factors and the interaction of market forces and labor market institutions. Recent changes in the US wage structure are analyzed in detail to highlight crucial measurement issues that arise in studying wage structure changes and to illustrate the operation of the supply-demand-institution framework. The roles of skill-biased technological change, globalization forces, changes in demographics and relative skill supplies, industry labor rents, unions, and the minimum wage in the evolution of the US wage structure are examined. Recent wage structure changes are placed in a longer-term historical perspective, and differences and similarities in wage structure changes among OECD nations are assessed. © 1999 Elsevier Science B.V. All rights reserved.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644517']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644541.jsonld | ['Chapter 23. Empirical Strategies in Labor Economics'] | ['This chapter provides an overview of the methodological and practical issues that arise when estimating causal relationships that are of interest to labor economists. The subject matter includes identification, data collection, and measurement problems. Four identification strategies are discussed, and five empirical examples – the effects of schooling, unions, immigration, military service, and class size – illustrate the methodological points. In discussing each example, we adopt an experimentalist perspective that emphasizes the distinction between variables that have causal effects, control variables, and outcome variables. The chapter also discusses secondary datasets, primary data collection strategies, and administrative data. The section on measurement issues focuses on recent empirical examples, presents a summary of empirical findings on the reliability of key labor market data, and briefly reviews the role of survey sampling weights and the allocation of missing values in empirical research. © 1999 Elsevier Science B.V. All rights reserved.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644541'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 23. Empirical Strategies in Labor Economics']
### Abstract:
['This chapter provides an overview of the methodological and practical issues that arise when estimating causal relationships that are of interest to labor economists. The subject matter includes identification, data collection, and measurement problems. Four identification strategies are discussed, and five empirical examples – the effects of schooling, unions, immigration, military service, and class size – illustrate the methodological points. In discussing each example, we adopt an experimentalist perspective that emphasizes the distinction between variables that have causal effects, control variables, and outcome variables. The chapter also discusses secondary datasets, primary data collection strategies, and administrative data. The section on measurement issues focuses on recent empirical examples, presents a summary of empirical findings on the reliability of key labor market data, and briefly reviews the role of survey sampling weights and the allocation of missing values in empirical research. © 1999 Elsevier Science B.V. All rights reserved.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644541']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644606.jsonld | ['Chapter 22 Public-sector labor markets'] | ['This chapter discusses public-sector labor markets. One unique aspect of public-sector labor markets is that the laws governing impasse resolution vary across states. This provides an opportunity for researchers to estimate their effects on union/nonunion wage differentials, on wage levels, on the demand for labor, and on public/private pay differentials. However, other aspects of the legal environment that influence bargaining also differ across states; these include budget referenda requirements, expenditure and/or tax limitation legislation, balanced budget requirements, and agency shop provisions. Studies are required that consider all of these forces simultaneously and allow for the possibility that many of them are endogenously determined. A second unique aspect is that the unit of observation in public-sector studies often tends to be a bargaining unit, and the underlying union contracts in areas where bargaining takes place are typically available to researchers. Third, in spite of the rapid growth of collective bargaining in the public sector and the variety of institutional arrangements for determining wages in the sector, many studies of public-sector labor markets make no mention of the role of unions and/or the effects of the institutional arrangements.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644606'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 22 Public-sector labor markets']
### Abstract:
['This chapter discusses public-sector labor markets. One unique aspect of public-sector labor markets is that the laws governing impasse resolution vary across states. This provides an opportunity for researchers to estimate their effects on union/nonunion wage differentials, on wage levels, on the demand for labor, and on public/private pay differentials. However, other aspects of the legal environment that influence bargaining also differ across states; these include budget referenda requirements, expenditure and/or tax limitation legislation, balanced budget requirements, and agency shop provisions. Studies are required that consider all of these forces simultaneously and allow for the possibility that many of them are endogenously determined. A second unique aspect is that the unit of observation in public-sector studies often tends to be a bargaining unit, and the underlying union contracts in areas where bargaining takes place are typically available to researchers. Third, in spite of the rapid growth of collective bargaining in the public sector and the variety of institutional arrangements for determining wages in the sector, many studies of public-sector labor markets make no mention of the role of unions and/or the effects of the institutional arrangements.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644606']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644614.jsonld | ['Chapter 21 Segmented labor markets'] | ['The segmented labor market (SLM) approach is typically identified with a group of economists who argue that the neoclassical apparatus provides an inadequate or incomplete description of the labor market and leaves unexplained most of the major labor market policy issues. The SLM literature ranges over a broad spectrum of viewpoints sharing a common hypothesis that labor markets are segmented and that problems of income distribution, unemployment, and discrimination are a result of that segmentation. Some models and research that carry the SLM label are clearly different from neoclassical research. A distinctive feature of SLM research is that it is primarily motivated by concern over policy issues. The chapter describes the SLM model of the internal labor market of the primary sector of the economy and the SLM model of the secondary or low wage sector of the economy. In the chapter, the secondary sector model is analyzed and the findings in the empirical literature that are relevant to the testable hypotheses of the SLM are surveyed.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644614'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 21 Segmented labor markets']
### Abstract:
['The segmented labor market (SLM) approach is typically identified with a group of economists who argue that the neoclassical apparatus provides an inadequate or incomplete description of the labor market and leaves unexplained most of the major labor market policy issues. The SLM literature ranges over a broad spectrum of viewpoints sharing a common hypothesis that labor markets are segmented and that problems of income distribution, unemployment, and discrimination are a result of that segmentation. Some models and research that carry the SLM label are clearly different from neoclassical research. A distinctive feature of SLM research is that it is primarily motivated by concern over policy issues. The chapter describes the SLM model of the internal labor market of the primary sector of the economy and the SLM model of the secondary or low wage sector of the economy. In the chapter, the secondary sector model is analyzed and the findings in the empirical literature that are relevant to the testable hypotheses of the SLM are surveyed.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644614']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644649.jsonld | ['Chapter 18 The analysis of union behavior'] | ['There is a substantial body of economic research, largely theoretical but with a recent empirical component, on the analysis of union behavior. This chapter reviews this literature selectively to place it in perspective so that analysts may begin to answer questions raised by the descriptive research on labor unions and to understand the role that unions play in the economy. It focuses on fitting the existing work into a coherent conceptual framework and on suggesting some directions for further research. The chapter presents a working definition of a labor union and describes the economic modus operandi of labor unions in the American economy. A number of examples of unions in various industries within the United States are presented in the chapter to highlight the role that market and legal/political constraints play in determining the environment within which unions operate.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644649'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 18 The analysis of union behavior']
### Abstract:
['There is a substantial body of economic research, largely theoretical but with a recent empirical component, on the analysis of union behavior. This chapter reviews this literature selectively to place it in perspective so that analysts may begin to answer questions raised by the descriptive research on labor unions and to understand the role that unions play in the economy. It focuses on fitting the existing work into a coherent conceptual framework and on suggesting some directions for further research. The chapter presents a working definition of a labor union and describes the economic modus operandi of labor unions in the American economy. A number of examples of unions in various industries within the United States are presented in the chapter to highlight the role that market and legal/political constraints play in determining the environment within which unions operate.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644649']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644665.jsonld | ['Chapter 16 The natural rate of unemployment: Explanation and policy'] | ['This chapter describes unemployment in the long run. It presents the time path of unemployment in the United States, the United Kingdom, and Europe. There is an upward trend for unemployment in the United States; but in Europe, there has been an astonishing growth with unemployment rising in all but one of the last 15 years. This explains why the unemployment rates are so different for different groups of people in society. For example, unemployment rates are typically higher for young people than for older people. They are also higher for the unskilled, for blacks, and for workers in certain industries. These differences are closely related to the different rates of turnover of the different groups. To explain unemployment, three main types of model are constructed. The first of these is based on supply and demand and assumes that without government intervention these are, in the long run, equal. However, even without wage regulation there may be excess supply of labor and involuntary unemployment may persist because of the wage-setting behavior of monopsonistic firms or of monopolistic unions or because of bargaining between the two. Thus, second set of models has wages set by firms, and the third has wages set by unions.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644665'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 16 The natural rate of unemployment: Explanation and policy']
### Abstract:
['This chapter describes unemployment in the long run. It presents the time path of unemployment in the United States, the United Kingdom, and Europe. There is an upward trend for unemployment in the United States; but in Europe, there has been an astonishing growth with unemployment rising in all but one of the last 15 years. This explains why the unemployment rates are so different for different groups of people in society. For example, unemployment rates are typically higher for young people than for older people. They are also higher for the unskilled, for blacks, and for workers in certain industries. These differences are closely related to the different rates of turnover of the different groups. To explain unemployment, three main types of model are constructed. The first of these is based on supply and demand and assumes that without government intervention these are, in the long run, equal. However, even without wage regulation there may be excess supply of labor and involuntary unemployment may persist because of the wage-setting behavior of monopsonistic firms or of monopolistic unions or because of bargaining between the two. Thus, second set of models has wages set by firms, and the third has wages set by unions.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644665']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644681.jsonld | ['Chapter 14 The employment relationship: Job attachment, work effort, and the nature of contracts'] | ['In the U.S. economy, approximately 100 million workers are matched with market work activities on any given day. Millions more are matched with the nonmarket activities of various kinds, including child rearing, the home production of a variety of goods and services, and schooling. Economic efficiency requires that (1) specific individuals and activities be appropriately matched and (2) the individuals, once matched, undertake the activity with an appropriate level of effort or intensity. This chapter discusses the economic forces that influence and define the important aspects of elements of the employment relationship in a market economy. In the chapter, three aspects of the employment relationship are reviewed: (1) the supply of work effort by the employee, (2) the investment in employeremployee match specific skills, and (3) the provision of earnings insurance by the employer. The supply and demand for work effort of individual workers is an obvious and crucial factor in the employment relationship. Employers have preferences about the intensity with which employees undertake their tasks, which may be quite at variance with those of the employees.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644681'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 14 The employment relationship: Job attachment, work effort, and the nature of contracts']
### Abstract:
['In the U.S. economy, approximately 100 million workers are matched with market work activities on any given day. Millions more are matched with the nonmarket activities of various kinds, including child rearing, the home production of a variety of goods and services, and schooling. Economic efficiency requires that (1) specific individuals and activities be appropriately matched and (2) the individuals, once matched, undertake the activity with an appropriate level of effort or intensity. This chapter discusses the economic forces that influence and define the important aspects of elements of the employment relationship in a market economy. In the chapter, three aspects of the employment relationship are reviewed: (1) the supply of work effort by the employee, (2) the investment in employeremployee match specific skills, and (3) the provision of earnings insurance by the employer. The supply and demand for work effort of individual workers is an obvious and crucial factor in the employment relationship. Employers have preferences about the intensity with which employees undertake their tasks, which may be quite at variance with those of the employees.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644681']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644754.jsonld | ['Chapter 11 The determination of life cycle earnings: A survey'] | ['The chapter presents a survey on the determination of life cycle earnings. The chapter describes the theoretical work on the determination of life cycle earnings. The common thread in this work is the notion that workers can influence their earnings through various investment activities. A person who spends time in school or in on-the-job training sacrifices current earnings in the hope of increasing his future earning potential. Consequently, the observed life cycle earnings profiles reflect individual economic choices as well as purely technological or biological processes such as depreciation or aging. There is, however, considerable controversy on the market situation in which investment choices are made. The welfare and policy implications are very different if schooling enhances productivity or is merely used as a mode of transferring income by signalling and screening. In this survey focus is on the human capital approach and on its testable implications to individual earning profiles setting aside the aggregate and policy implications. There are various stylized facts that the theory attempts to explain: a life cycle earnings profile, which is increasing at early ages and is declining toward the end of the working period; a wage profile that tends to increase over the life cycle with a weak tendency for wage reduction toward the end of the working period; an hours of work life cycle profile, which is increasing at early ages and declining at older ages, with the peak occurring earlier than in the earnings or wage profiles.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644754'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 11 The determination of life cycle earnings: A survey']
### Abstract:
['The chapter presents a survey on the determination of life cycle earnings. The chapter describes the theoretical work on the determination of life cycle earnings. The common thread in this work is the notion that workers can influence their earnings through various investment activities. A person who spends time in school or in on-the-job training sacrifices current earnings in the hope of increasing his future earning potential. Consequently, the observed life cycle earnings profiles reflect individual economic choices as well as purely technological or biological processes such as depreciation or aging. There is, however, considerable controversy on the market situation in which investment choices are made. The welfare and policy implications are very different if schooling enhances productivity or is merely used as a mode of transferring income by signalling and screening. In this survey focus is on the human capital approach and on its testable implications to individual earning profiles setting aside the aggregate and policy implications. There are various stylized facts that the theory attempts to explain: a life cycle earnings profile, which is increasing at early ages and is declining toward the end of the working period; a wage profile that tends to increase over the life cycle with a weak tendency for wage reduction toward the end of the working period; an hours of work life cycle profile, which is increasing at early ages and declining at older ages, with the peak occurring earlier than in the earnings or wage profiles.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644754']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644789.jsonld | ['Chapter 8 The demand for labor in the long run'] | ['The chapter presents a discussion on the demand for labor in the long run, which is important to labor economists for a variety of reasons. As in the market for a commodity, similarly in the market for labor, the demand is an integral determinant of the price of what is exchanged. The purpose of studying the demand for labor is to understand the ways in which exogenous changes will affect the employment and/or wage rates of a group or groups of workers. The chapter begins by examining the theory of labor demand. The theoretical discussion is divided into two parts: demand for labor in the two-factor case, and demand in the multi-factor case. In each part, first the results are derived generally, followed by specific functional forms. The chapter presents the issues involved in estimating labor-demand relations for one type of homogeneous labor, and then summarizes the state of knowledge in this area. The focus throughout is on the relations between exogenous wage changes and the determination of employment, and between exogenous changes in inelastically supplied labor and the structure of relative wages. It is assumed throughout that employers are perfect competitors in both product and labor markets. The chapter focuses only on the long-run, or static theory of labor demand, and thus only on the long-run effects of exogenous changes in wage rates or labor supply.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644789'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 8 The demand for labor in the long run']
### Abstract:
['The chapter presents a discussion on the demand for labor in the long run, which is important to labor economists for a variety of reasons. As in the market for a commodity, similarly in the market for labor, the demand is an integral determinant of the price of what is exchanged. The purpose of studying the demand for labor is to understand the ways in which exogenous changes will affect the employment and/or wage rates of a group or groups of workers. The chapter begins by examining the theory of labor demand. The theoretical discussion is divided into two parts: demand for labor in the two-factor case, and demand in the multi-factor case. In each part, first the results are derived generally, followed by specific functional forms. The chapter presents the issues involved in estimating labor-demand relations for one type of homogeneous labor, and then summarizes the state of knowledge in this area. The focus throughout is on the relations between exogenous wage changes and the determination of employment, and between exogenous changes in inelastically supplied labor and the structure of relative wages. It is assumed throughout that employers are perfect competitors in both product and labor markets. The chapter focuses only on the long-run, or static theory of labor demand, and thus only on the long-run effects of exogenous changes in wage rates or labor supply.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644789']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644827.jsonld | ['Chapter 4 Home production — A survey'] | ['The chapter presents a survey on home production. The terminology of the theory of home production has been used to extend economic analysis to such diverse fields as family formation (marriage and divorce), fertility decisions, and involvement in illegal activities. It has been adapted to re-examine the demand for health, the demand for travel and transport choice, and more. Many of these applications have expanded to become research fields in their own right (for example, the economics of the family, the economics of fertility, and the economics of crime). This survey focuses on home production in its narrower definition, discussing inputs, shadow prices, production technology, and other aspects of the home production process. The theory of home production cannot escape the limitations of traditional consumption theory as the outputs (that is, the commodities) are unobserved. Any empirical investigation based on this theory is therefore confined to the study of inputs, that is, changes in their level and mix as a result of changes in output, prices, and productivity. Moreover, the study of inputs is hampered by the fact that data on inputs are not readily available, the output (as mentioned) cannot be measured directly, and prices (specifically the price of time) are unknown. In an extreme case, work at home and work in the market are perfect substitutes-a person is indifferent to the composition of the goods and services he consumes, whether they are produced at home or purchased in the market.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644827'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 4 Home production — A survey']
### Abstract:
['The chapter presents a survey on home production. The terminology of the theory of home production has been used to extend economic analysis to such diverse fields as family formation (marriage and divorce), fertility decisions, and involvement in illegal activities. It has been adapted to re-examine the demand for health, the demand for travel and transport choice, and more. Many of these applications have expanded to become research fields in their own right (for example, the economics of the family, the economics of fertility, and the economics of crime). This survey focuses on home production in its narrower definition, discussing inputs, shadow prices, production technology, and other aspects of the home production process. The theory of home production cannot escape the limitations of traditional consumption theory as the outputs (that is, the commodities) are unobserved. Any empirical investigation based on this theory is therefore confined to the study of inputs, that is, changes in their level and mix as a result of changes in output, prices, and productivity. Moreover, the study of inputs is hampered by the fact that data on inputs are not readily available, the output (as mentioned) cannot be measured directly, and prices (specifically the price of time) are unknown. In an extreme case, work at home and work in the market are perfect substitutes-a person is indifferent to the composition of the goods and services he consumes, whether they are produced at home or purchased in the market.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644827']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644835.jsonld | ['Chapter 3 Models of marital status and childbearing'] | ['The chapter presents an investigation on those microeconomic models of marital status and childbearing that contains implications for female labor supply. The chapter focuses its discussion primarily on the developed countries, principally the United States, but refers to developing country issues where these are applicable. The role of economic variables as determinants of demographic behavior is often far more vivid and persuasive in developing nations than it is in the United States or Western Europe. The chapter presents a review for the United States of trends in those demographic variables that are strongly associated with female labor supply: age at first marriage, marital dissolution, age at first birth, the number of children born over the life cycle, and the age pattern of fertility. Demographers have uncovered pronounced empirical regularities in these variables, at least in aggregate data; in some instances the patterns are regular enough to be summarized in parsimonious model schedules. These schedules are reviewed in the chapter. The chapter discusses that economists have left such regularities largely unexploited; the prior information embedded in model schedules may yield efficiency gains in estimation, especially where aggregate data are concerned. The chapter concludes with a review of the recent efforts to establish regularities in micro data.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644835'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 3 Models of marital status and childbearing']
### Abstract:
['The chapter presents an investigation on those microeconomic models of marital status and childbearing that contains implications for female labor supply. The chapter focuses its discussion primarily on the developed countries, principally the United States, but refers to developing country issues where these are applicable. The role of economic variables as determinants of demographic behavior is often far more vivid and persuasive in developing nations than it is in the United States or Western Europe. The chapter presents a review for the United States of trends in those demographic variables that are strongly associated with female labor supply: age at first marriage, marital dissolution, age at first birth, the number of children born over the life cycle, and the age pattern of fertility. Demographers have uncovered pronounced empirical regularities in these variables, at least in aggregate data; in some instances the patterns are regular enough to be summarized in parsimonious model schedules. These schedules are reviewed in the chapter. The chapter discusses that economists have left such regularities largely unexploited; the prior information embedded in model schedules may yield efficiency gains in estimation, especially where aggregate data are concerned. The chapter concludes with a review of the recent efforts to establish regularities in micro data.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644835']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644851.jsonld | ['Chapter 1 Labor supply of men: A survey'] | ['This chapter presents a survey on the labor supply of men. This survey of male labor supply covers the determinants of whether men work for pay in the labor market and, if so, the determinants of their hours of work. The chapter also discusses the work behavior of men prior to their retirement from the labor force. Moreover, even though there are noteworthy investigations into the labor supply of men in many different countries, this survey is restricted almost entirely to the Anglo-American literature. The chapter identifies the major time-series and cross-section empirical regularities in male labor supply behavior. It is these that any economic theory should be designed to address. The chapter presents the canonical static model of labor supply and then immediately proceeds to deal with the problems in applying this model at the aggregative level. The static model is amended to handle the situation of nonlinear budget constraints. The chapter concludes with an outline of the most popular life-cycle model of labor supply. The chapter also addresses the issues in and results from the estimation of the static model. Problems in specifying the model are first considered and then the results are presented from the U.S. nonexperimental literature, the British literature, and the U.S. experimental literature. The chapter also discusses the estimates from the applications of the life-cycle model.'] | ['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644851'] | ['Arbeitsmarkttheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 1 Labor supply of men: A survey']
### Abstract:
['This chapter presents a survey on the labor supply of men. This survey of male labor supply covers the determinants of whether men work for pay in the labor market and, if so, the determinants of their hours of work. The chapter also discusses the work behavior of men prior to their retirement from the labor force. Moreover, even though there are noteworthy investigations into the labor supply of men in many different countries, this survey is restricted almost entirely to the Anglo-American literature. The chapter identifies the major time-series and cross-section empirical regularities in male labor supply behavior. It is these that any economic theory should be designed to address. The chapter presents the canonical static model of labor supply and then immediately proceeds to deal with the problems in applying this model at the aggregative level. The static model is amended to handle the situation of nonlinear budget constraints. The chapter concludes with an outline of the most popular life-cycle model of labor supply. The chapter also addresses the issues in and results from the estimation of the static model. Problems in specifying the model are first considered and then the results are presented from the U.S. nonexperimental literature, the British literature, and the U.S. experimental literature. The chapter also discusses the estimates from the applications of the life-cycle model.']
### GND ID:
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644851']
### GND class:
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831644908.jsonld | ['Chapter 16 Economics of environment and renewable resources in socialist systems : Part 1: Russia Part 2: China'] | ["This chapter discusses the Soviet system that serves to facilitate or prevent pollution. It discusses the extent to which the U.S.S.R.'s culture and endowment have led to or away from pollution. It discusses the way the lack of pluralism and the overwhelming emphasis on production make it difficult to protect the Soviet environment. The Soviet experience indicates that Soviet environmental theory and law are more impressive on paper than in practice. The Soviet Union has long had legislation setting limits on waste discharge that is by far more demanding than any other country in the world. It was widely acknowledged in the U.S.S.R. that these limits were set more to impress the outside world than to constrain Soviet producers. Much of the reason for the existence of pollution in the Soviet Union arises from the fact that the Soviet Union has placed and continues to place so much emphasis on economic growth."] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644908'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 16 Economics of environment and renewable resources in socialist systems : Part 1: Russia Part 2: China']
### Abstract:
["This chapter discusses the Soviet system that serves to facilitate or prevent pollution. It discusses the extent to which the U.S.S.R.'s culture and endowment have led to or away from pollution. It discusses the way the lack of pluralism and the overwhelming emphasis on production make it difficult to protect the Soviet environment. The Soviet experience indicates that Soviet environmental theory and law are more impressive on paper than in practice. The Soviet Union has long had legislation setting limits on waste discharge that is by far more demanding than any other country in the world. It was widely acknowledged in the U.S.S.R. that these limits were set more to impress the outside world than to constrain Soviet producers. Much of the reason for the existence of pollution in the Soviet Union arises from the fact that the Soviet Union has placed and continues to place so much emphasis on economic growth."]
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644908']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831644916.jsonld | ['Chapter 15 The economics of outdoor recreation'] | ['The economics of outdoor recreation deals with the supply of and demand for natural resources for recreational purposes. This chapter discusses the conceptual and empirical approaches, problems, and solutions encountered in applying economics to the provision of natural resources and explains the way in which the evolution of the economics of outdoor recreation has been influenced by the distinctive nature of markets for outdoor recreation. The distinctive characteristic of a recreational activity is that the services usually are provided by the public sector. This characteristic strongly favors the nature of research on outdoor recreation economics; it is welfare economics in action with the task of providing the public sector better information about the allocation of recreational resources. As a tool for analyzing decisions in the public sector, outdoor recreation economics has primarily become the study of the demand for outdoor recreation. Public sector decisions about natural resources tend to be lumpythat is, whether to utilize a resource for a specific purpose such as recreation.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644916'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 15 The economics of outdoor recreation']
### Abstract:
['The economics of outdoor recreation deals with the supply of and demand for natural resources for recreational purposes. This chapter discusses the conceptual and empirical approaches, problems, and solutions encountered in applying economics to the provision of natural resources and explains the way in which the evolution of the economics of outdoor recreation has been influenced by the distinctive nature of markets for outdoor recreation. The distinctive characteristic of a recreational activity is that the services usually are provided by the public sector. This characteristic strongly favors the nature of research on outdoor recreation economics; it is welfare economics in action with the task of providing the public sector better information about the allocation of recreational resources. As a tool for analyzing decisions in the public sector, outdoor recreation economics has primarily become the study of the demand for outdoor recreation. Public sector decisions about natural resources tend to be lumpythat is, whether to utilize a resource for a specific purpose such as recreation.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644916']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831644924.jsonld | ['Chapter 14 The economics of fisheries management'] | ['Fishery resources, unlike minerals and fossil fuels, are renewable in the sense that they are capable of growth. Unlike forests and most other renewable resources, fishery resources are difficult to manage effectively because they are, with few exceptions, a common property. Most fish, particularly finfish, are very mobile and are not readily observable except upon capture. Consequently, it becomes very difficult or very costly to assign rights of exclusive use to individuals or small groups. The importance of the economics of fisheries management has grown substantially over the past years as a consequence of the United Nations Third Conference on the Law of the Sea. The Conference has brought about a near revolution in the management of world fisheries. Fishery resources constitute common-property resources with the consequence that fisheries are subject to a market failure. A major development in fisheries economics is the shift away from static to dynamic or capital-theoretic analysis. Dynamic considerations, in turn, lead naturally to a consideration of problems arising from uncertainty.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644924'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 14 The economics of fisheries management']
### Abstract:
['Fishery resources, unlike minerals and fossil fuels, are renewable in the sense that they are capable of growth. Unlike forests and most other renewable resources, fishery resources are difficult to manage effectively because they are, with few exceptions, a common property. Most fish, particularly finfish, are very mobile and are not readily observable except upon capture. Consequently, it becomes very difficult or very costly to assign rights of exclusive use to individuals or small groups. The importance of the economics of fisheries management has grown substantially over the past years as a consequence of the United Nations Third Conference on the Law of the Sea. The Conference has brought about a near revolution in the management of world fisheries. Fishery resources constitute common-property resources with the consequence that fisheries are subject to a market failure. A major development in fisheries economics is the shift away from static to dynamic or capital-theoretic analysis. Dynamic considerations, in turn, lead naturally to a consideration of problems arising from uncertainty.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644924']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831644932.jsonld | ['Chapter 13 Land resources and land markets'] | ['Land is a central concept not only in the technical sciences and in professions such as engineering, geology, agriculture, and forestry but also in law and in the social sciences. This chapter discusses the economics of land. There exists an ancient and persistent suspicion that land is not just any commodity or factor of production. Land has played a prominent role in the development of general economic theory, and it retains a special position in some current renditions thereof. There is recurrent debate whether any economic theory that treats land as nothing special can be valid. In the most general versions of the mainstream economic theory, land is treated as a factor of production, and the debate revolves around whether it is useful to reserve a special place for land in formulating the aggregate production function. Land and natural resource concepts remain important for many special purposes in economics. The Ricardian concept of economic rent remains durable and finds application in areas as diverse as land economics, location theory, and welfare change measurement. Agricultural economics, natural resource economics, urban economics, and regional economics are important areas of specialization within economics, and the classic concept of land, which is appropriately updated, plays an important role in each.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644932'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 13 Land resources and land markets']
### Abstract:
['Land is a central concept not only in the technical sciences and in professions such as engineering, geology, agriculture, and forestry but also in law and in the social sciences. This chapter discusses the economics of land. There exists an ancient and persistent suspicion that land is not just any commodity or factor of production. Land has played a prominent role in the development of general economic theory, and it retains a special position in some current renditions thereof. There is recurrent debate whether any economic theory that treats land as nothing special can be valid. In the most general versions of the mainstream economic theory, land is treated as a factor of production, and the debate revolves around whether it is useful to reserve a special place for land in formulating the aggregate production function. Land and natural resource concepts remain important for many special purposes in economics. The Ricardian concept of economic rent remains durable and finds application in areas as diverse as land economics, location theory, and welfare change measurement. Agricultural economics, natural resource economics, urban economics, and regional economics are important areas of specialization within economics, and the classic concept of land, which is appropriately updated, plays an important role in each.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644932']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831644940.jsonld | ['Chapter 12 Multiple use management of public forestlands'] | ['This chapter focuses on the multiple-use management of public forestlands. The managers of these lands must, in addition to considering the value of timber harvests, consider various nonmarket amenity services, such as recreation, water flow, and wildlife, which are influenced by alterations in the standing stocks of timber. The chapter discusses research results on the relation of such multiple-use management to single-purpose timber management. The presentation is motivated by a number of issues of current concern, including (1) the withdrawal of lands from timber management, (2) the specialization or diversification of land use, (3) the level and stability of timber supply, and (4) the wisdom of certain accepted rule-of-thumb principles of public forestland management related to the age and level of harvests. The principles of public forestry in the United States have often been driven by the fear of timber shortage and the destabilizing effects on employment and prices arising from fluctuations in the supply of timber. The chapter describes the institutional setting for multiple-use management within the U.S. Forest Service.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644940'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 12 Multiple use management of public forestlands']
### Abstract:
['This chapter focuses on the multiple-use management of public forestlands. The managers of these lands must, in addition to considering the value of timber harvests, consider various nonmarket amenity services, such as recreation, water flow, and wildlife, which are influenced by alterations in the standing stocks of timber. The chapter discusses research results on the relation of such multiple-use management to single-purpose timber management. The presentation is motivated by a number of issues of current concern, including (1) the withdrawal of lands from timber management, (2) the specialization or diversification of land use, (3) the level and stability of timber supply, and (4) the wisdom of certain accepted rule-of-thumb principles of public forestland management related to the age and level of harvests. The principles of public forestry in the United States have often been driven by the fear of timber shortage and the destabilizing effects on employment and prices arising from fluctuations in the supply of timber. The chapter describes the institutional setting for multiple-use management within the U.S. Forest Service.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644940']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831644967.jsonld | ['Preface to the handbook'] | ['Natural resources have been studied by economists from the earliest days of the profession. They have been seen as providing the basis for national prosperity, power, and wealth. The ability to harness energy in new ways has been recognized as a major, if not the major, factor underlying the industrial revolution. Because forests, fisheries, and agricultural land are fundamental to food supplies, these resources have been long studied. Uniting the study of natural resource issues is the growing realization that the most important energy and natural resource issues are inherently interdisciplinary. The study of resource economics has required and motivated researchers to reach out beyond their own disciplines and integrate ideas from other fields into their own disciplines. This integration will influence not only resource economics but also other areas within economics.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644967'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Preface to the handbook']
### Abstract:
['Natural resources have been studied by economists from the earliest days of the profession. They have been seen as providing the basis for national prosperity, power, and wealth. The ability to harness energy in new ways has been recognized as a major, if not the major, factor underlying the industrial revolution. Because forests, fisheries, and agricultural land are fundamental to food supplies, these resources have been long studied. Uniting the study of natural resource issues is the growing realization that the most important energy and natural resource issues are inherently interdisciplinary. The study of resource economics has required and motivated researchers to reach out beyond their own disciplines and integrate ideas from other fields into their own disciplines. This integration will influence not only resource economics but also other areas within economics.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644967']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831644983.jsonld | ['Introduction to the series'] | ['The aim of the Handbooks in Economics series is to produce handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each handbook provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results but also newer developments from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys. The handbooks are intended to provide not only useful reference volumes for professional collections but also possible supplementary readings for advanced courses for graduate students in economics.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644983'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Introduction to the series']
### Abstract:
['The aim of the Handbooks in Economics series is to produce handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each handbook provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results but also newer developments from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys. The handbooks are intended to provide not only useful reference volumes for professional collections but also possible supplementary readings for advanced courses for graduate students in economics.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831644983']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831645017.jsonld | ['Chapter 9 Distributional and macroeconomic aspects of environmental policy'] | ['The achievement of an efficient balance between the economic system and the environment is just one of many societal objectives. How environmental policy affects these other objectives is important because these impacts may serve to constrain the set of politically feasible policies, may recommend some approaches over others or may provide guidance as to the most appropriate timing of policy implementation. Two effects of environmental policy have been discussed in the chapter: distributional effects and macroeconomic effects. The former concerns how the costs and benefits of environmental policy are distributed among socioeconomic groups and among geographic regions; the latter concerns the impact of environmental policy on important national aggregates such as inflation, unemployment, and productivity. The chapter examines the theoretical models that serve to identify the channels of influence, the data which provide the raw material for the estimates and the methods used to quantify the impacts. The objective is to convey a sense of the magnitude of the impacts along with an appreciation for the reliability of these estimates for policy purposes. Finally, the chapter discusses the policies that have triggered the effects being estimated.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645017'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 9 Distributional and macroeconomic aspects of environmental policy']
### Abstract:
['The achievement of an efficient balance between the economic system and the environment is just one of many societal objectives. How environmental policy affects these other objectives is important because these impacts may serve to constrain the set of politically feasible policies, may recommend some approaches over others or may provide guidance as to the most appropriate timing of policy implementation. Two effects of environmental policy have been discussed in the chapter: distributional effects and macroeconomic effects. The former concerns how the costs and benefits of environmental policy are distributed among socioeconomic groups and among geographic regions; the latter concerns the impact of environmental policy on important national aggregates such as inflation, unemployment, and productivity. The chapter examines the theoretical models that serve to identify the channels of influence, the data which provide the raw material for the estimates and the methods used to quantify the impacts. The objective is to convey a sense of the magnitude of the impacts along with an appreciation for the reliability of these estimates for policy purposes. Finally, the chapter discusses the policies that have triggered the effects being estimated.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645017']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831645025.jsonld | ['Chapter 8 Input-output models, national economic models, and the environment'] | ["Pervasive environmental spillovers are replacing the now outmoded bees and apple orchards as the economists' examples of external effects. The materials balance approach underlines the generality of residuals as the normal outcome of the throughput of materials in the course of production and consumption activities. Residuals measured in weight are defined by the difference between the weight of the total material inputs to an activity and the weight of the products that are the objective of the activity, plus the weight of net accumulation of tangible assets in the activity. The chapter reviews that the receiving bodies of Nature, the environmental receptors, play a decisive role in the economic analysis of pollution. It discusses that the receptors provide man with two types of services: residual disposal services and environmental services. The former type relates to the inherent generation of residuals by the materials-processing economy of an industrialized state; the latter type is an omnivorous category of recreation activities such as sport fishing, boating, amenity services, aesthetic values, including the intrinsic value of Nature, and the provision of extraction possibilities from mineral deposits, water, and air."] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645025'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 8 Input-output models, national economic models, and the environment']
### Abstract:
["Pervasive environmental spillovers are replacing the now outmoded bees and apple orchards as the economists' examples of external effects. The materials balance approach underlines the generality of residuals as the normal outcome of the throughput of materials in the course of production and consumption activities. Residuals measured in weight are defined by the difference between the weight of the total material inputs to an activity and the weight of the products that are the objective of the activity, plus the weight of net accumulation of tangible assets in the activity. The chapter reviews that the receiving bodies of Nature, the environmental receptors, play a decisive role in the economic analysis of pollution. It discusses that the receptors provide man with two types of services: residual disposal services and environmental services. The former type relates to the inherent generation of residuals by the materials-processing economy of an industrialized state; the latter type is an omnivorous category of recreation activities such as sport fishing, boating, amenity services, aesthetic values, including the intrinsic value of Nature, and the provision of extraction possibilities from mineral deposits, water, and air."]
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645025']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831645068.jsonld | ['Chapter 4 Economics of nature preservation'] | ['This chapter develops some of the economic theory relevant to decisions about nature preservation. The theory is motivated by a discussion of current issues: the disposition of wilderness lands and the protection of endangered species. It discusses two key concepts: uncertainty and irreversibility. Uncertainty is pervasive economic life, of course. But more than the usual degree of uncertainty surrounds the potential future benefits from conserving ecosystems. Irreversibility is clearly central to thinking about endangered species or ecosystems because extinction or loss of wildlands is indeed irreversible. The chapter develops a model of decision-making under uncertainty and irreversibility. The model proves that the optimal use of a natural environment is more likely to be continued preservation where the passage of time brings information about potential future benefits of preservation than where it does not. A related result is that the fraction of the area optimally preserved is larger. Finally, it presents applications of the concepts and models developed for terrestrial ecosystems. It has relevance to hydrospheric and atmospheric environments as well.'] | ['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645068'] | ['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen'] | Document
### Title: ['Chapter 4 Economics of nature preservation']
### Abstract:
['This chapter develops some of the economic theory relevant to decisions about nature preservation. The theory is motivated by a discussion of current issues: the disposition of wilderness lands and the protection of endangered species. It discusses two key concepts: uncertainty and irreversibility. Uncertainty is pervasive economic life, of course. But more than the usual degree of uncertainty surrounds the potential future benefits from conserving ecosystems. Irreversibility is clearly central to thinking about endangered species or ecosystems because extinction or loss of wildlands is indeed irreversible. The chapter develops a model of decision-making under uncertainty and irreversibility. The model proves that the optimal use of a natural environment is more likely to be continued preservation where the passage of time brings information about potential future benefits of preservation than where it does not. A related result is that the fraction of the area optimally preserved is larger. Finally, it presents applications of the concepts and models developed for terrestrial ecosystems. It has relevance to hydrospheric and atmospheric environments as well.']
### GND ID:
['gnd:4014743-5', 'gnd:4061638-1', 'gnd:4075236-7', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645068']
### GND class:
['Energiewirtschaft', 'Umweltökonomie', 'Natürliche Ressourcen']
<|eot_id|> |
3A1831645491.jsonld | ['Chapter 7 Housing subsidies : Effects on housing decisions, efficiency, and equity'] | ['This chapter discusses housing subsidies. The American housing market is subject to a mind-boggling array of government interventions by various levels of government. These include: housing codes, that set quality standards that must be met by builders; licensure of real estate brokers and sales people; exclusionary zoning, which stipulates that land in a given area can be used only for certain purposes; open housing laws, that prohibit discrimination in the selling of housing; rent control; interest rate and other regulations on mortgage lending institutions; urban renewal programs, under which communities use their powers of eminent domain to acquire urban land, destroy slums, and sell the land to private developers; real estate taxation; and interventions in the credit market to increase the flow of credit to housing. The chapter focuses on the two most important federal policies toward housing, at least in terms of costs to the government.'] | ['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645491'] | ['Öffentliche Wirtschaft'] | Document
### Title: ['Chapter 7 Housing subsidies : Effects on housing decisions, efficiency, and equity']
### Abstract:
['This chapter discusses housing subsidies. The American housing market is subject to a mind-boggling array of government interventions by various levels of government. These include: housing codes, that set quality standards that must be met by builders; licensure of real estate brokers and sales people; exclusionary zoning, which stipulates that land in a given area can be used only for certain purposes; open housing laws, that prohibit discrimination in the selling of housing; rent control; interest rate and other regulations on mortgage lending institutions; urban renewal programs, under which communities use their powers of eminent domain to acquire urban land, destroy slums, and sell the land to private developers; real estate taxation; and interventions in the credit market to increase the flow of credit to housing. The chapter focuses on the two most important federal policies toward housing, at least in terms of costs to the government.']
### GND ID:
['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645491']
### GND class:
['Öffentliche Wirtschaft']
<|eot_id|> |
3A183164553X.jsonld | ['Chapter 3 Public sector pricing'] | ['This chapter discusses public sector pricing. Prices are an excellent instrument for coordinating supply and demand, provided people who do not pay can be excluded from consumption. Hence, prices are used not only by private entrepreneurs, but also by politicians, bureaucrats, and public utility managers. Public prices can be found in almost every economic activity. However, looking across countries, there are particular areas where public pricing is more likely to be found than in others. These areas are closely associated with supplying essential goods and services, either to industries or directly to consumers. Essential means that they cannot be cut off without danger of total or partial collapse of an economy. Essential goods and services are almost the same in all industrialized countries. Hence, it is possible to present a fairly general basic catalogue of candidates for public pricing. How many of these candidates are priced publicly in any one country, depends on the prevailing degree of confidence in the efficiency of the private sector, which differs from country to country.'] | ['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164553X'] | ['Öffentliche Wirtschaft'] | Document
### Title: ['Chapter 3 Public sector pricing']
### Abstract:
['This chapter discusses public sector pricing. Prices are an excellent instrument for coordinating supply and demand, provided people who do not pay can be excluded from consumption. Hence, prices are used not only by private entrepreneurs, but also by politicians, bureaucrats, and public utility managers. Public prices can be found in almost every economic activity. However, looking across countries, there are particular areas where public pricing is more likely to be found than in others. These areas are closely associated with supplying essential goods and services, either to industries or directly to consumers. Essential means that they cannot be cut off without danger of total or partial collapse of an economy. Essential goods and services are almost the same in all industrialized countries. Hence, it is possible to present a fairly general basic catalogue of candidates for public pricing. How many of these candidates are priced publicly in any one country, depends on the prevailing degree of confidence in the efficiency of the private sector, which differs from country to country.']
### GND ID:
['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164553X']
### GND class:
['Öffentliche Wirtschaft']
<|eot_id|> |
3A1831645548.jsonld | ['Chapter 2 The theory of excess burden and optimal taxation'] | ['The theory of excess burden and optimal commodity taxation is one of the oldest subjects of study in public finance, dating back to Dupuit (1844), and yet is also closely associated with the rapid analytical development of the field which commenced in the early 1970s. This chapter presents the chronological development of the concept of excess burden and the related study of optimal tax theory. A main objective is to uncover the interrelationships among various apparently distinct results, so as to bring out the basic structure of the entire problem. The various measures of excess burden, focusing on issues of approximation, informational requirements and aggregation over individuals, and the effects of a more general technology than the commonly supposed one with fixed producer prices are developed. Some of the empirical attempts to estimate various deadweight losses are reviewed. The issue of tax reform, as distinct from de novo tax design.'] | ['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645548'] | ['Öffentliche Wirtschaft'] | Document
### Title: ['Chapter 2 The theory of excess burden and optimal taxation']
### Abstract:
['The theory of excess burden and optimal commodity taxation is one of the oldest subjects of study in public finance, dating back to Dupuit (1844), and yet is also closely associated with the rapid analytical development of the field which commenced in the early 1970s. This chapter presents the chronological development of the concept of excess burden and the related study of optimal tax theory. A main objective is to uncover the interrelationships among various apparently distinct results, so as to bring out the basic structure of the entire problem. The various measures of excess burden, focusing on issues of approximation, informational requirements and aggregation over individuals, and the effects of a more general technology than the commonly supposed one with fixed producer prices are developed. Some of the empirical attempts to estimate various deadweight losses are reviewed. The issue of tax reform, as distinct from de novo tax design.']
### GND ID:
['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645548']
### GND class:
['Öffentliche Wirtschaft']
<|eot_id|> |
3A1831645556.jsonld | ['Chapter 1 A brief history of fiscal doctrine'] | ["This chapter provides brief history of fiscal doctrine. The history of fiscal doctrine, perhaps more than that of any other aspect of economics, carries a particular fascination. On the one hand, it reflects the advance of analytical economics, an enrichment of the tool box, to use Joan Robinson's terms, which may then be applied to the solution of fiscal problems. The close linkages between general and fiscal theory is most evident for the analysis of tax incidence, which at each stage reflects the prevailing theory of price and distribution. The analysis of tax equity was affected profoundly by the growth of utility theory. The history of fiscal theory is arranged into five assays dealing with the theory of public expenditures, equity in taxation, efficiency in taxation, shifting and incidence, and macro aspects of fiscal policy."] | ['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645556'] | ['Öffentliche Wirtschaft'] | Document
### Title: ['Chapter 1 A brief history of fiscal doctrine']
### Abstract:
["This chapter provides brief history of fiscal doctrine. The history of fiscal doctrine, perhaps more than that of any other aspect of economics, carries a particular fascination. On the one hand, it reflects the advance of analytical economics, an enrichment of the tool box, to use Joan Robinson's terms, which may then be applied to the solution of fiscal problems. The close linkages between general and fiscal theory is most evident for the analysis of tax incidence, which at each stage reflects the prevailing theory of price and distribution. The analysis of tax equity was affected profoundly by the growth of utility theory. The history of fiscal theory is arranged into five assays dealing with the theory of public expenditures, equity in taxation, efficiency in taxation, shifting and incidence, and macro aspects of fiscal policy."]
### GND ID:
['gnd:4242500-1', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831645556']
### GND class:
['Öffentliche Wirtschaft']
<|eot_id|> |
3A1831646625.jsonld | ['Preface to the Handbook'] | ['Econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in the book Handbook of Econometrics, Volume 6A embody this vision, and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice behavior and social interactions. All of the essays in this volume offer guidance to the practitioner on how to apply the methods they discuss to interpret economic data. The econometrics of industrial organization (IO) is another vibrant area of applied econometrics. Scholars in the field of IO have embraced econometrics. The resulting symbiosis between theory and practice is a paragon for econometric research. Modern developments in game theory have been incorporated in econometric models that enrich both theory and empirical analysis.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646625'] | ['Ökonometrie'] | Document
### Title: ['Preface to the Handbook']
### Abstract:
['Econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in the book Handbook of Econometrics, Volume 6A embody this vision, and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice behavior and social interactions. All of the essays in this volume offer guidance to the practitioner on how to apply the methods they discuss to interpret economic data. The econometrics of industrial organization (IO) is another vibrant area of applied econometrics. Scholars in the field of IO have embraced econometrics. The resulting symbiosis between theory and practice is a paragon for econometric research. Modern developments in game theory have been incorporated in econometric models that enrich both theory and empirical analysis.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646625']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A1831646722.jsonld | ['Chapter 69 Labor Supply Models: Unobserved Heterogeneity, Nonparticipation and Dynamics'] | ['This chapter is concerned with the identification and estimation of models of labor supply. The focus is on the key issues that arise from unobserved heterogeneity, nonparticipation and dynamics. We examine the simple “static” labor supply model with proportional taxes and highlight the problems surrounding nonparticipation and missing wages. The difference-in-differences approach to estimation and identification is developed within the context of the labor supply model. We also consider the impact of incorporating nonlinear taxation and welfare program participation. Family labor supply is looked at from both the unitary and collective perspectives. Finally we consider intertemporal models focusing on the difficulties that arise with participation and heterogeneity.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646722'] | ['Ökonometrie'] | Document
### Title: ['Chapter 69 Labor Supply Models: Unobserved Heterogeneity, Nonparticipation and Dynamics']
### Abstract:
['This chapter is concerned with the identification and estimation of models of labor supply. The focus is on the key issues that arise from unobserved heterogeneity, nonparticipation and dynamics. We examine the simple “static” labor supply model with proportional taxes and highlight the problems surrounding nonparticipation and missing wages. The difference-in-differences approach to estimation and identification is developed within the context of the labor supply model. We also consider the impact of incorporating nonlinear taxation and welfare program participation. Family labor supply is looked at from both the unitary and collective perspectives. Finally we consider intertemporal models focusing on the difficulties that arise with participation and heterogeneity.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646722']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A1831646730.jsonld | ['Chapter 68 Models of Aggregate Economic Relationships that Account for Heterogeneity'] | ['This chapter covers recent solutions to aggregation problems in three application areas: consumer demand analysis, consumption growth and wealth, and labor participation and wages. Each area involves treatment of heterogeneity and nonlinearity at the individual level. Three types of heterogeneity are highlighted: heterogeneity in individual tastes, heterogeneity in income and wealth risks, and heterogeneity in market participation. Work in each area is illustrated using results from empirical data. The overall aim is to present specific models that connect individual behavior with aggregate statistics, as well as to discuss the principles for constructing such models.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646730'] | ['Ökonometrie'] | Document
### Title: ['Chapter 68 Models of Aggregate Economic Relationships that Account for Heterogeneity']
### Abstract:
['This chapter covers recent solutions to aggregation problems in three application areas: consumer demand analysis, consumption growth and wealth, and labor participation and wages. Each area involves treatment of heterogeneity and nonlinearity at the individual level. Three types of heterogeneity are highlighted: heterogeneity in individual tastes, heterogeneity in income and wealth risks, and heterogeneity in market participation. Work in each area is illustrated using results from empirical data. The overall aim is to present specific models that connect individual behavior with aggregate statistics, as well as to discuss the principles for constructing such models.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646730']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A1831646749.jsonld | ['Chapter 67 Linking the Theory with the Data: That is the Core Problem of International Economics'] | ['The greatest problem for empirical analysis is how best to allow the context to affect the inferences. Econometric theory presupposes contextual “restrictions” that can be taken as given or assigned a probability distribution. These contextual inputs are rarely available. I illustrate this point with a review of the empirical work in international economics which has focused not on properties of estimators but instead how best to link the theory with the data. I argue that the two errors we should worry about are not rejecting a true null or accepting a false null but rather taking the theory too seriously and not taking the theory seriously enough.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646749'] | ['Ökonometrie'] | Document
### Title: ['Chapter 67 Linking the Theory with the Data: That is the Core Problem of International Economics']
### Abstract:
['The greatest problem for empirical analysis is how best to allow the context to affect the inferences. Econometric theory presupposes contextual “restrictions” that can be taken as given or assigned a probability distribution. These contextual inputs are rarely available. I illustrate this point with a review of the empirical work in international economics which has focused not on properties of estimators but instead how best to link the theory with the data. I argue that the two errors we should worry about are not rejecting a true null or accepting a false null but rather taking the theory too seriously and not taking the theory seriously enough.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646749']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A1831646757.jsonld | ['Chapter 66 The Measurement of Productivity for Nations'] | ['This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total factor productivity measures are defined and are related to each other and to gross domestic product (GDP) per capita. Their growth over time and relative counterparts are defined as well. Different conceptual meanings have been proposed for a total factor productivity growth (TFPG) index. These are easiest to understand for the case in which the index number problem is absent: a production process that involves one input and one output (a 1–1 process). It is easily seen that four common concepts of TFPG all lead to the same result in the 1–1 case. Moving on to a general N input, M output production scenario, we demonstrate that a Paasche, Laspeyres or Fisher index number formula provides a measure for all four of the concepts of TFPG introduced for the 1–1 case. This is an advantage of the Paasche–Laspeyres–Fisher family of formulas. When multiple inputs or outputs are involved, there is the problem of choosing among alternative functional forms. The axiomatic and economic approaches to index formula choice are reviewed. In addition, we briefly cover the Divisia index number approach and growth accounting, including the KLEMS (capital, labor, energy, materials and services) approach. The gross output measures of the KLEMS approach are contrasted with value added output measures such as GDP. Also, an alternative family of revenue function based productivity growth indexes proposed by Diewert, Kohli and Morrison (DKM) is outlined. The DKM approach facilitates the decomposition of productivity growth into economically meaningful components. This approach is useful, for example, for examining the effects of changes in the terms of trade on productivity growth.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646757'] | ['Ökonometrie'] | Document
### Title: ['Chapter 66 The Measurement of Productivity for Nations']
### Abstract:
['This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total factor productivity measures are defined and are related to each other and to gross domestic product (GDP) per capita. Their growth over time and relative counterparts are defined as well. Different conceptual meanings have been proposed for a total factor productivity growth (TFPG) index. These are easiest to understand for the case in which the index number problem is absent: a production process that involves one input and one output (a 1–1 process). It is easily seen that four common concepts of TFPG all lead to the same result in the 1–1 case. Moving on to a general N input, M output production scenario, we demonstrate that a Paasche, Laspeyres or Fisher index number formula provides a measure for all four of the concepts of TFPG introduced for the 1–1 case. This is an advantage of the Paasche–Laspeyres–Fisher family of formulas. When multiple inputs or outputs are involved, there is the problem of choosing among alternative functional forms. The axiomatic and economic approaches to index formula choice are reviewed. In addition, we briefly cover the Divisia index number approach and growth accounting, including the KLEMS (capital, labor, energy, materials and services) approach. The gross output measures of the KLEMS approach are contrasted with value added output measures such as GDP. Also, an alternative family of revenue function based productivity growth indexes proposed by Diewert, Kohli and Morrison (DKM) is outlined. The DKM approach facilitates the decomposition of productivity growth into economically meaningful components. This approach is useful, for example, for examining the effects of changes in the terms of trade on productivity growth.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646757']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A1831646781.jsonld | ['Chapter 63 Econometric Tools for Analyzing Market Outcomes'] | ['This paper outlines recently developed techniques for estimating the primitives needed to empirically analyze equilibrium interactions and their implications in oligopolistic markets. It is divided into an introduction and three sections; a section on estimating demand functions, a section on estimating production functions, and a section on estimating “dynamic” parameters (parameters estimated through their implications on the choice of controls which determine the distribution of future profits). The introduction provides an overview of how these primitives are used in typical I.O. applications, and explains how the individual sections are structured. The topics of the three sections have all been addressed in prior literature. Consequently each section begins with a review of the problems I.O. researchers encountered in using the prior approaches. The sections then continue with a fairly detailed explanation of the recent techniques and their relationship to the problems with the prior approaches. Hopefully the detail is rich enough to enable the reader to actually program up a version of the techniques and use them to analyze data. We conclude each section with a brief discussion of some of the problems with the more recent techniques. Here the emphasis is on when those problems are likely to be particularly important, and on recent research designed to overcome them when they are.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646781'] | ['Ökonometrie'] | Document
### Title: ['Chapter 63 Econometric Tools for Analyzing Market Outcomes']
### Abstract:
['This paper outlines recently developed techniques for estimating the primitives needed to empirically analyze equilibrium interactions and their implications in oligopolistic markets. It is divided into an introduction and three sections; a section on estimating demand functions, a section on estimating production functions, and a section on estimating “dynamic” parameters (parameters estimated through their implications on the choice of controls which determine the distribution of future profits). The introduction provides an overview of how these primitives are used in typical I.O. applications, and explains how the individual sections are structured. The topics of the three sections have all been addressed in prior literature. Consequently each section begins with a review of the problems I.O. researchers encountered in using the prior approaches. The sections then continue with a fairly detailed explanation of the recent techniques and their relationship to the problems with the prior approaches. Hopefully the detail is rich enough to enable the reader to actually program up a version of the techniques and use them to analyze data. We conclude each section with a brief discussion of some of the problems with the more recent techniques. Here the emphasis is on when those problems are likely to be particularly important, and on recent research designed to overcome them when they are.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646781']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A183164679X.jsonld | ["Chapter 62 A Practitioner's Approach to Estimating Intertemporal Relationships Using Longitudinal Data: Lessons from Applications in Wage Dynamics"] | ['This chapter presents a unified set of estimation methods for fitting a rich array of models describing dynamic relationships within a longitudinal data setting. The discussion surveys approaches for characterizing the micro dynamics of continuous dependent variables both over time and across individuals, focusing on two flexible sets of empirical specifications: dynamic simultaneous equations models incorporating error-components structures, and autoregressive quantile models. The chapter is motivated by the principle that, whenever possible, estimation methods should rely on routines available in familiar software packages to make them accessible to a wide range of practitioners. Conventional method-of-moments procedures offer a general apparatus for estimating parameters of panel-data specifications, though one must introduce a series of modifications to overcome challenges arising from: (1) use of unbalanced data structures, (2) weighting to account for stratified sampling inherent in survey longitudinal data, (3) incorporation of predetermined variables in estimation, and (4) computational complexities confronted when estimating large systems of equations with intricate intertemporal restrictions. To allow researchers to separate the estimation of longitudinal time-series specifications into manageable pieces, the discussion describes multi-step approaches that estimate subsets of parameters appearing in a single model component (such as the autoregressive or moving-average structure of the error process) without having to estimate all parameters of the entire model jointly. Such procedures offer a powerful set of diagnostic tools for narrowing model choices and for selecting among specifications that fit the underlying data. To illustrate all of the econometric methods outlined in this chapter, the analysis presents a set of empirical applications summarizing the dynamic properties of hourly wages for adult men using data from the Panel Study of Income Dynamics.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164679X'] | ['Ökonometrie'] | Document
### Title: ["Chapter 62 A Practitioner's Approach to Estimating Intertemporal Relationships Using Longitudinal Data: Lessons from Applications in Wage Dynamics"]
### Abstract:
['This chapter presents a unified set of estimation methods for fitting a rich array of models describing dynamic relationships within a longitudinal data setting. The discussion surveys approaches for characterizing the micro dynamics of continuous dependent variables both over time and across individuals, focusing on two flexible sets of empirical specifications: dynamic simultaneous equations models incorporating error-components structures, and autoregressive quantile models. The chapter is motivated by the principle that, whenever possible, estimation methods should rely on routines available in familiar software packages to make them accessible to a wide range of practitioners. Conventional method-of-moments procedures offer a general apparatus for estimating parameters of panel-data specifications, though one must introduce a series of modifications to overcome challenges arising from: (1) use of unbalanced data structures, (2) weighting to account for stratified sampling inherent in survey longitudinal data, (3) incorporation of predetermined variables in estimation, and (4) computational complexities confronted when estimating large systems of equations with intricate intertemporal restrictions. To allow researchers to separate the estimation of longitudinal time-series specifications into manageable pieces, the discussion describes multi-step approaches that estimate subsets of parameters appearing in a single model component (such as the autoregressive or moving-average structure of the error process) without having to estimate all parameters of the entire model jointly. Such procedures offer a powerful set of diagnostic tools for narrowing model choices and for selecting among specifications that fit the underlying data. To illustrate all of the econometric methods outlined in this chapter, the analysis presents a set of empirical applications summarizing the dynamic properties of hourly wages for adult men using data from the Panel Study of Income Dynamics.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164679X']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A1831646803.jsonld | ['Chapter 61 Intertemporal Substitution and Risk Aversion'] | ['We study structural models of stochastic discount factors and explore alternative methods of estimating such models using data on macroeconomic risk and asset returns. Particular attention is devoted to recursive utility models in which risk aversion can be modified without altering intertemporal substitution. We characterize the impact of changing the intertemporal substitution and risk aversion parameters on equilibrium short-run and long-run risk prices and on equilibrium wealth.'] | ['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646803'] | ['Ökonometrie'] | Document
### Title: ['Chapter 61 Intertemporal Substitution and Risk Aversion']
### Abstract:
['We study structural models of stochastic discount factors and explore alternative methods of estimating such models using data on macroeconomic risk and asset returns. Particular attention is devoted to recursive utility models in which risk aversion can be modified without altering intertemporal substitution. We characterize the impact of changing the intertemporal substitution and risk aversion parameters on equilibrium short-run and long-run risk prices and on equilibrium wealth.']
### GND ID:
['gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831646803']
### GND class:
['Ökonometrie']
<|eot_id|> |
3A1831647214.jsonld | ['Chapter 23 Economic interdependence and coordination of economic policies'] | ['The term “economic interdependence” has come into widespread use during the past decade. The chapter addresses the various meanings of this term, the possible reasons for increased economic interdependence on some of its meanings, and the implications of that increased economic interdependence for the functioning of national economies, including national economic policy. Economic interdependence refers to some measure of the value of economic transactions between two countries, or between a country and the rest of the world, perhaps scaled to total national output or to some measure of total financial assets. The responses to increased economic interdependence have varied in character and direction. One response involves steps toward disintegration, to reduce the interdependence and restore some freedom of action to national policy-makers. A second response involves attempts to coordinate national policy actions in one fashion or another, sometimes through conscious collaboration among nations, sometimes by one nation attempting to impose its preferred course of action on others. A third response involves the search for new policy instruments not subject to the same degree of erosion as the traditional instruments, or even choosing instruments that capitalize on the increased economic openness and mobility. New barriers to foreign trade and international movement of capital are examples of disintegration, of efforts to reduce interdependence by providing for increased separation among national markets.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647214'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 23 Economic interdependence and coordination of economic policies']
### Abstract:
['The term “economic interdependence” has come into widespread use during the past decade. The chapter addresses the various meanings of this term, the possible reasons for increased economic interdependence on some of its meanings, and the implications of that increased economic interdependence for the functioning of national economies, including national economic policy. Economic interdependence refers to some measure of the value of economic transactions between two countries, or between a country and the rest of the world, perhaps scaled to total national output or to some measure of total financial assets. The responses to increased economic interdependence have varied in character and direction. One response involves steps toward disintegration, to reduce the interdependence and restore some freedom of action to national policy-makers. A second response involves attempts to coordinate national policy actions in one fashion or another, sometimes through conscious collaboration among nations, sometimes by one nation attempting to impose its preferred course of action on others. A third response involves the search for new policy instruments not subject to the same degree of erosion as the traditional instruments, or even choosing instruments that capitalize on the increased economic openness and mobility. New barriers to foreign trade and international movement of capital are examples of disintegration, of efforts to reduce interdependence by providing for increased separation among national markets.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647214']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647230.jsonld | ['Chapter 21 Empirical studies of macroeconomic interdependence'] | ['This chapter presents some empirical results from studies of macroeconomic interdependence. It focuses on studies that involve linked macroeconometric models of two or more countries. It presents specific versions of the models and analysis with special attention to the role of exchange rates in international transmission. The chapter classifies the main linkage projects, paying special attention to those features of the models that have important bearing on the international transmission of disturbances under fixed and flexible exchange rates. It discusses the international repercussions of fiscal policy, monetary policy, and changes in world oil prices. Empirical studies of macroeconomic interdependence have been producing useful results for over a decade. The earliest studies were mainly of two types: large multilateral projects based mainly on linkage through trade flows and trade prices, and bilateral or few-country models with a more complete and consistent modeling of trade, capital, exchange rate, and, occasionally, migration linkages. Recently, the availability of better multi-country data sets has made possible the construction of many-country models based on consistent aggregate theoretical structures and emphasizing monetary and exchange rate linkages. At the same time, forecasting models such as Project LINK, the OECD INTERLINK, and the EEC Eurolink models have moved some way toward a complete specification of monetary and capital account linkages, and modelers have been examining and ironing out unnecessary differences among the structures of the individual country models.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647230'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 21 Empirical studies of macroeconomic interdependence']
### Abstract:
['This chapter presents some empirical results from studies of macroeconomic interdependence. It focuses on studies that involve linked macroeconometric models of two or more countries. It presents specific versions of the models and analysis with special attention to the role of exchange rates in international transmission. The chapter classifies the main linkage projects, paying special attention to those features of the models that have important bearing on the international transmission of disturbances under fixed and flexible exchange rates. It discusses the international repercussions of fiscal policy, monetary policy, and changes in world oil prices. Empirical studies of macroeconomic interdependence have been producing useful results for over a decade. The earliest studies were mainly of two types: large multilateral projects based mainly on linkage through trade flows and trade prices, and bilateral or few-country models with a more complete and consistent modeling of trade, capital, exchange rate, and, occasionally, migration linkages. Recently, the availability of better multi-country data sets has made possible the construction of many-country models based on consistent aggregate theoretical structures and emphasizing monetary and exchange rate linkages. At the same time, forecasting models such as Project LINK, the OECD INTERLINK, and the EEC Eurolink models have moved some way toward a complete specification of monetary and capital account linkages, and modelers have been examining and ironing out unnecessary differences among the structures of the individual country models.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647230']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647249.jsonld | ['Chapter 20 Income and price effects in foreign trade'] | ['This chapter identifies, summarizes, and evaluates the main methodological and policy issues that have surrounded the estimation of trade equations. By “trade equations,” it mean equations for the time-series behavior of the quantities and prices of merchandise imports and exports, and as the title of the chapter suggests, it focuses explicitly on the role played by income and prices in the determination of these trade variables. The chapter addresses the main methodological issues in the specification of trade models. It discusses variables in demand and supply functions for imports and exports, what choices and compromises have to be made in the measurement of these variables, and what light existing evidence throws on the choice among competing specifications. The treatment of dynamics and time lags, aggregation, simultaneity, and stability of the relationships concerned has also been discussed in the chapter. The empirical estimates of income and price elasticities themselves and to the policy implications of those estimates have also been reviewed. Finally, suggestions are made for further research in the chapter.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647249'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 20 Income and price effects in foreign trade']
### Abstract:
['This chapter identifies, summarizes, and evaluates the main methodological and policy issues that have surrounded the estimation of trade equations. By “trade equations,” it mean equations for the time-series behavior of the quantities and prices of merchandise imports and exports, and as the title of the chapter suggests, it focuses explicitly on the role played by income and prices in the determination of these trade variables. The chapter addresses the main methodological issues in the specification of trade models. It discusses variables in demand and supply functions for imports and exports, what choices and compromises have to be made in the measurement of these variables, and what light existing evidence throws on the choice among competing specifications. The treatment of dynamics and time lags, aggregation, simultaneity, and stability of the relationships concerned has also been discussed in the chapter. The empirical estimates of income and price elasticities themselves and to the policy implications of those estimates have also been reviewed. Finally, suggestions are made for further research in the chapter.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647249']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647257.jsonld | ['Chapter 19 Empirical studies of exchange rates: Price behavior, rate determination and market efficiency'] | ['This chapter provides an overview of empirical results concerning recent exchange rate behavior. Alternative valuation measures, time series, and distributional properties have been covered in the chapter, along with estimates of transaction costs in the foreign exchange market. The chapter reviews empirical tests of specific models of exchange rate determination. It tests a particular model of exchange rate determination to forecast exchange rates or to examine the effect of other economic policies on exchange rates and vice versa. The chapter discusses the simple monetary approach, where exchange rates are determined by the relative demand for two moneys, and then proceeds to a portfolio balance approach that introduces bonds. It presents tests of foreign exchange market efficiency. Finally, the chapter provides an overview of efficient market theory, a review of evidence on the efficiency of markets in removing risk-free opportunities, and the evidence of the efficiency of markets in removing risky profit opportunities. It includes the evidence on the relationship between the forward rate and future spot rate.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647257'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 19 Empirical studies of exchange rates: Price behavior, rate determination and market efficiency']
### Abstract:
['This chapter provides an overview of empirical results concerning recent exchange rate behavior. Alternative valuation measures, time series, and distributional properties have been covered in the chapter, along with estimates of transaction costs in the foreign exchange market. The chapter reviews empirical tests of specific models of exchange rate determination. It tests a particular model of exchange rate determination to forecast exchange rates or to examine the effect of other economic policies on exchange rates and vice versa. The chapter discusses the simple monetary approach, where exchange rates are determined by the relative demand for two moneys, and then proceeds to a portfolio balance approach that introduces bonds. It presents tests of foreign exchange market efficiency. Finally, the chapter provides an overview of efficient market theory, a review of evidence on the efficiency of markets in removing risk-free opportunities, and the evidence of the efficiency of markets in removing risky profit opportunities. It includes the evidence on the relationship between the forward rate and future spot rate.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647257']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A183164729X.jsonld | ['Chapter 15 The specification and influence of asset markets'] | ["This chapter discusses portfolio balance models with postulated asset demands, asset demands broadly consistent with but not directly implied by microeconomic theory. The demand for the sum of assets denominated in each currency is homogeneous of degree one in nominal wealth, and the demand for money in each country depends on the return on the security denominated in that country's currency but not on the return on securities denominated in other currencies. However, under these same assumptions the demand for money depends on real wealth. Because the conclusions of macroeconomic analysis often depend crucially on the form of asset demand functions, it is important to continue to explore the implications of the microeconomic theory and other microeconomic approaches. The chapter discusses that the consumer arrives at his or her asset demands by maximizing his or her utility given interest rates and the parameters of the distributions of prices and exchange rates. The distributions of prices and exchange rates are not invariant to changes in the distributions of policy variables and stochastic components of tastes and technology. It has been recognized that a very important item on the research agenda is imbedding consumer's asset demands based on utility maximization in a general equilibrium model in which the distributions of prices and exchange rates are determined endogenously."] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164729X'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 15 The specification and influence of asset markets']
### Abstract:
["This chapter discusses portfolio balance models with postulated asset demands, asset demands broadly consistent with but not directly implied by microeconomic theory. The demand for the sum of assets denominated in each currency is homogeneous of degree one in nominal wealth, and the demand for money in each country depends on the return on the security denominated in that country's currency but not on the return on securities denominated in other currencies. However, under these same assumptions the demand for money depends on real wealth. Because the conclusions of macroeconomic analysis often depend crucially on the form of asset demand functions, it is important to continue to explore the implications of the microeconomic theory and other microeconomic approaches. The chapter discusses that the consumer arrives at his or her asset demands by maximizing his or her utility given interest rates and the parameters of the distributions of prices and exchange rates. The distributions of prices and exchange rates are not invariant to changes in the distributions of policy variables and stochastic components of tastes and technology. It has been recognized that a very important item on the research agenda is imbedding consumer's asset demands based on utility maximization in a general equilibrium model in which the distributions of prices and exchange rates are determined endogenously."]
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164729X']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647303.jsonld | ['Chapter 14 Asset markets, exchange rates and the balance of payments'] | ['This chapter reviews developments in international monetary economics from the late 1960s through the early 1980s. It discusses that the “monetary approach to the balance of payments” was the economic determinants of the behavior of the balance of payments, especially, the theoretical elaboration and empirical investigation of the dynamic mechanism of balance of payments adjustment. Recent research on macroeconomics, for both closed and open economies, expresses far less confidence in the ability of governments to systematically affect levels of national income and consistently maintain full employment through policy manipulation. The chapter discusses that in earlier work on exchange rate theory, the condition for equilibrium in the flow market for foreign exchange transactions has been regarded as the proximate determinant of the exchange rate. In some analyses, expectations of future exchange rates had an important influence on current exchange rates by affecting speculative capital flows. The chapter also provides modern analysis of the dynamics of balance of payments adjustment under fixed exchange rates beginning with a simple exposition of the key elements of the monetary mechanism of balance of payments adjustment. Finally, the chapter also deals with the theory of flexible exchange rates. The evolution of the international monetary system from a regime of pegged exchange rates into a regime of flexible rates resulted in a renewed interest in the theory of exchange rate determination.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647303'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 14 Asset markets, exchange rates and the balance of payments']
### Abstract:
['This chapter reviews developments in international monetary economics from the late 1960s through the early 1980s. It discusses that the “monetary approach to the balance of payments” was the economic determinants of the behavior of the balance of payments, especially, the theoretical elaboration and empirical investigation of the dynamic mechanism of balance of payments adjustment. Recent research on macroeconomics, for both closed and open economies, expresses far less confidence in the ability of governments to systematically affect levels of national income and consistently maintain full employment through policy manipulation. The chapter discusses that in earlier work on exchange rate theory, the condition for equilibrium in the flow market for foreign exchange transactions has been regarded as the proximate determinant of the exchange rate. In some analyses, expectations of future exchange rates had an important influence on current exchange rates by affecting speculative capital flows. The chapter also provides modern analysis of the dynamics of balance of payments adjustment under fixed exchange rates beginning with a simple exposition of the key elements of the monetary mechanism of balance of payments adjustment. Finally, the chapter also deals with the theory of flexible exchange rates. The evolution of the international monetary system from a regime of pegged exchange rates into a regime of flexible rates resulted in a renewed interest in the theory of exchange rate determination.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647303']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647362.jsonld | ['Chapter 12 Trade policies in developed countries'] | ['Modern policy-oriented analysis of trade issues in developed countries focuses mainly on five sets of questions. This chapter discusses the differences in the levels of protection among industries. The industry and economy wide effects of trade liberalization on economic welfare, trade, output, employment and the distribution of income are discussed, and the effectiveness of the government policies are introduced for the purpose of assisting the economic adjustment to increased import. The chapter also discusses the economic effects of discriminatory tariff arrangements such as customs unions and the generalized system of preferences. The economic impact of specific nontariff measures, such as quantitative restrictions, preferential government purchasing policies, export, domestic subsidies, countervailing duties, dumping and antidumping duties, and domestic content requirements are reviewed. The chapter further discusses institutional arrangements and policies that maintain order in the international trading system and in the management of trade-policy conflict. Representative studies are cited with a view to establishing the main research results and suggesting issues on which further research is needed.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647362'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 12 Trade policies in developed countries']
### Abstract:
['Modern policy-oriented analysis of trade issues in developed countries focuses mainly on five sets of questions. This chapter discusses the differences in the levels of protection among industries. The industry and economy wide effects of trade liberalization on economic welfare, trade, output, employment and the distribution of income are discussed, and the effectiveness of the government policies are introduced for the purpose of assisting the economic adjustment to increased import. The chapter also discusses the economic effects of discriminatory tariff arrangements such as customs unions and the generalized system of preferences. The economic impact of specific nontariff measures, such as quantitative restrictions, preferential government purchasing policies, export, domestic subsidies, countervailing duties, dumping and antidumping duties, and domestic content requirements are reviewed. The chapter further discusses institutional arrangements and policies that maintain order in the international trading system and in the management of trade-policy conflict. Representative studies are cited with a view to establishing the main research results and suggesting issues on which further research is needed.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647362']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647397.jsonld | ['Chapter 9 Uncertainty in trade models'] | ['The chapter evaluates variety of models, each involving uncertainty in the context of international trade. Uncertainty has many potential roles in microeconomic models of international trade. It creates a rationale for additional markets and hence both added dimensions for potential gains from trade and a plethora of results contingent upon the particular market structure assumed. In addition, uncertainty arises in issues concerning the existence and form of extra market organizations and institutions. The role of uncertainty, and its policy implications, varies both across models of a given typeconsidering the advisibility of free trade with and without complete marketsand across types of models. For some purposes, results are preserved by treating trade and production in equities rather than in the traditional physical commodities. In other areas, the presence of uncertainty increases the possible explanations of market failureconsidering the role of pecuniary externalities with incomplete markets. In addition, uncertainty is linked to the existence and extent of extra market institutions and organizations. The variety of potential models, even within the context of uncertainty and international trade, suggests that it must forgo the comfort of strong conclusions, either positive or normative. The outcome often depends on the extent of markets and/or the extent of extra market institutions, with their implicit patterns of potential externalitiesyet perhaps the justification for the study of international economics is that national boundaries do affect the nature and extent of markets and institutions in many ways.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647397'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 9 Uncertainty in trade models']
### Abstract:
['The chapter evaluates variety of models, each involving uncertainty in the context of international trade. Uncertainty has many potential roles in microeconomic models of international trade. It creates a rationale for additional markets and hence both added dimensions for potential gains from trade and a plethora of results contingent upon the particular market structure assumed. In addition, uncertainty arises in issues concerning the existence and form of extra market organizations and institutions. The role of uncertainty, and its policy implications, varies both across models of a given typeconsidering the advisibility of free trade with and without complete marketsand across types of models. For some purposes, results are preserved by treating trade and production in equities rather than in the traditional physical commodities. In other areas, the presence of uncertainty increases the possible explanations of market failureconsidering the role of pecuniary externalities with incomplete markets. In addition, uncertainty is linked to the existence and extent of extra market institutions and organizations. The variety of potential models, even within the context of uncertainty and international trade, suggests that it must forgo the comfort of strong conclusions, either positive or normative. The outcome often depends on the extent of markets and/or the extent of extra market institutions, with their implicit patterns of potential externalitiesyet perhaps the justification for the study of international economics is that national boundaries do affect the nature and extent of markets and institutions in many ways.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647397']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647400.jsonld | ['Chapter 8 The role of natural resources in trade models'] | ['Much of the modern long-run theory of international trade derives from what has come to be called the 2 x 2 or HeckscherOhlin model of production; and the rest of the theory derives from straightforward extensions of that model achieved by the accommodation of additional factors and products and by the addition of more-or-less durable produced intermediate goods. In all versions of the model, final goods are produced, directly or indirectly, by two primary or nonproduced factors of production, a unit of any factor yielding its services in a given and steady flow forever. There is need of a theory of international trade that accommodates both exhaustible natural resources and the traditional Ricardian primary factors and of which the standard HeckscherOhlin theory appears as a special case. The new theory can be expected to differ in important respects from the old, for in a context of exhaustible resources there are no nontrivial steady states, only transitions. The assumption that resources can be extracted without cost simplifies the calculations and enables concentrating on the implications of exhaustibility as such. The canonical case in which the available processes of extraction display constant returns to scale and are independent of the amount already extracted, costs of extraction make no difference to qualitative conclusions. The chapter also recognizes the historical fact that the extraction and processing of some exhaustible resources have sometimes been under the control of cartels.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647400'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 8 The role of natural resources in trade models']
### Abstract:
['Much of the modern long-run theory of international trade derives from what has come to be called the 2 x 2 or HeckscherOhlin model of production; and the rest of the theory derives from straightforward extensions of that model achieved by the accommodation of additional factors and products and by the addition of more-or-less durable produced intermediate goods. In all versions of the model, final goods are produced, directly or indirectly, by two primary or nonproduced factors of production, a unit of any factor yielding its services in a given and steady flow forever. There is need of a theory of international trade that accommodates both exhaustible natural resources and the traditional Ricardian primary factors and of which the standard HeckscherOhlin theory appears as a special case. The new theory can be expected to differ in important respects from the old, for in a context of exhaustible resources there are no nontrivial steady states, only transitions. The assumption that resources can be extracted without cost simplifies the calculations and enables concentrating on the implications of exhaustibility as such. The canonical case in which the available processes of extraction display constant returns to scale and are independent of the amount already extracted, costs of extraction make no difference to qualitative conclusions. The chapter also recognizes the historical fact that the extraction and processing of some exhaustible resources have sometimes been under the control of cartels.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647400']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647419.jsonld | ['Chapter 7 Increasing returns, imperfect markets, and trade theory'] | ["This chapter discusses two major issues: explanations of trade patterns and gains from trade. The classical traditions were mainly concerned with gains from trade and other welfare effects. The theory of international trade is surveyed in the presence of economies of scale and monopolistic competition, with an emphasis on predictions of trade patterns and gains from trade. The main ingredient of this logic is that the allocation of productive resources is guided in every country by the reward level of every sector's employed combination of factors of production. Economies of scale, which arise from conglomeration or public intermediate inputs, seem to be country specific, and due to transportation costs within-industry specialization in some stages of production are countries specific. It seems, therefore, that the size of a domestic industry plays a role in the determination of external economies of scale. But it is also clear that some sources of these scale economies affect more than a single industry, which implies cross-industry spillovers of external economies of scale. The chapter provides an overview on the general model of trade in homogeneous products when there are variable returns to scale and free entry into industries."] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647419'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 7 Increasing returns, imperfect markets, and trade theory']
### Abstract:
["This chapter discusses two major issues: explanations of trade patterns and gains from trade. The classical traditions were mainly concerned with gains from trade and other welfare effects. The theory of international trade is surveyed in the presence of economies of scale and monopolistic competition, with an emphasis on predictions of trade patterns and gains from trade. The main ingredient of this logic is that the allocation of productive resources is guided in every country by the reward level of every sector's employed combination of factors of production. Economies of scale, which arise from conglomeration or public intermediate inputs, seem to be country specific, and due to transportation costs within-industry specialization in some stages of production are countries specific. It seems, therefore, that the size of a domestic industry plays a role in the determination of external economies of scale. But it is also clear that some sources of these scale economies affect more than a single industry, which implies cross-industry spillovers of external economies of scale. The chapter provides an overview on the general model of trade in homogeneous products when there are variable returns to scale and free entry into industries."]
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647419']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647443.jsonld | ['Chapter 4 Growth and development in trade models'] | ["Growth and development are used interchangeably. Growth has the connotation of simply more of everything, while development is taken to refer to some qualitative transformation or structural shift. In practice, the development aspect of trade theory arises from the attempt to address problems regarded as of major significance for the less developed countries of the world economy. These have ranged from the infant industry problem of Hamilton and list to the terms of trade problem. The insights and concerns of these critics of orthodox doctrine have led to a number of attempts, sympathetic and otherwise, to handle these issues analytically. This chapter provides an overview on Ricardian theory and considers some neglected aspects of Ricardo's ideas on trade and growth, based on his analysis of the distributive shares. It discusses Arthur Lewis three-good Ricardian model of the terms of trade and Emmanuel's concept of unequal exchange. It also reviews neoclassical theory, which contains the major mainstream literature on growth and trade, with discussions on comparative statics, dynamics, and the concept of immiserizing growth and foreign investment. It also discusses various theoretical aspects of trade and development issues, including analyses of infant industry protection, two-gap models, the open dual economy, and an extensive discussion of recent work on NorthSouth models."] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647443'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 4 Growth and development in trade models']
### Abstract:
["Growth and development are used interchangeably. Growth has the connotation of simply more of everything, while development is taken to refer to some qualitative transformation or structural shift. In practice, the development aspect of trade theory arises from the attempt to address problems regarded as of major significance for the less developed countries of the world economy. These have ranged from the infant industry problem of Hamilton and list to the terms of trade problem. The insights and concerns of these critics of orthodox doctrine have led to a number of attempts, sympathetic and otherwise, to handle these issues analytically. This chapter provides an overview on Ricardian theory and considers some neglected aspects of Ricardo's ideas on trade and growth, based on his analysis of the distributive shares. It discusses Arthur Lewis three-good Ricardian model of the terms of trade and Emmanuel's concept of unequal exchange. It also reviews neoclassical theory, which contains the major mainstream literature on growth and trade, with discussions on comparative statics, dynamics, and the concept of immiserizing growth and foreign investment. It also discusses various theoretical aspects of trade and development issues, including analyses of infant industry protection, two-gap models, the open dual economy, and an extensive discussion of recent work on NorthSouth models."]
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647443']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647478.jsonld | ['Chapter 1 The positive theory of international trade'] | ['The theory of international trade is one of the oldest subfields of economics. This chapter provides an overview of the present state of positive trade theory, concentrating on developments, at the same time it draws attention to the continuity in the development of the subject. It discusses the classical paradigm as a set of assumptions under which trade is limited to final commodities and markets are undistorted and characterized by constant returns to scale and perfect competition. Nowadays theories are motivated by certain key features of real-world trade: the vast exchange of raw materials and commodities that require further processing before being consumed, the large volume of intra-industry trade, and the importance of the size of markets. These extensions in analysis have been generally made without throwing away building blocks found in the earlier literature. Extensions of the simple models of production within the classical paradigm have broken out of the traditional two-by-two mold to analyze the importance of joint production, complementarity among factors, and general properties in higher dimensions. Earlier work on simpler trade models has proved of value in all these extensions.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647478'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 1 The positive theory of international trade']
### Abstract:
['The theory of international trade is one of the oldest subfields of economics. This chapter provides an overview of the present state of positive trade theory, concentrating on developments, at the same time it draws attention to the continuity in the development of the subject. It discusses the classical paradigm as a set of assumptions under which trade is limited to final commodities and markets are undistorted and characterized by constant returns to scale and perfect competition. Nowadays theories are motivated by certain key features of real-world trade: the vast exchange of raw materials and commodities that require further processing before being consumed, the large volume of intra-industry trade, and the importance of the size of markets. These extensions in analysis have been generally made without throwing away building blocks found in the earlier literature. Extensions of the simple models of production within the classical paradigm have broken out of the traditional two-by-two mold to analyze the importance of joint production, complementarity among factors, and general properties in higher dimensions. Earlier work on simpler trade models has proved of value in all these extensions.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647478']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647532.jsonld | ['Chapter 38 Double-edged incentives: Institutions and policy coordination'] | ['This chapter focuses on institutions and policy coordination. A large portion of international macroeconomics deals with the international transmission of national macroeconomic policies. Such spillovers naturally raise the possibility of inefficiencies: national policymakers, who set their fiscal and monetary policies to maximize a domestic objective, but ignoring the externalities that they impose on other countries, may find themselves in equilibria that entail collective irrationality. The chapter presents a detailed discussion on the fiscal policy. The illustrations revolve around two types of externalities: one tied to international redistribution via the intertemporal terms of trade and the other to a fiscal externality in capital taxation, when capital is mobile among countries. The analysis in the chapter does not rest on explicit micro foundations, but on quadratic payoff functions and linear and static macroeconomic models. Two main themes emerge from the analysis. First, that the analysis of international policy interactions is enriched by taking the incentives in the domestic policy process into account. The second central theme focuses on the institutions that can enforce cooperation. The chapter also discusses tax competition, domestic institutions in fiscal policy, and international institutions in fiscal policy.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647532'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 38 Double-edged incentives: Institutions and policy coordination']
### Abstract:
['This chapter focuses on institutions and policy coordination. A large portion of international macroeconomics deals with the international transmission of national macroeconomic policies. Such spillovers naturally raise the possibility of inefficiencies: national policymakers, who set their fiscal and monetary policies to maximize a domestic objective, but ignoring the externalities that they impose on other countries, may find themselves in equilibria that entail collective irrationality. The chapter presents a detailed discussion on the fiscal policy. The illustrations revolve around two types of externalities: one tied to international redistribution via the intertemporal terms of trade and the other to a fiscal externality in capital taxation, when capital is mobile among countries. The analysis in the chapter does not rest on explicit micro foundations, but on quadratic payoff functions and linear and static macroeconomic models. Two main themes emerge from the analysis. First, that the analysis of international policy interactions is enriched by taking the incentives in the domestic policy process into account. The second central theme focuses on the institutions that can enforce cooperation. The chapter also discusses tax competition, domestic institutions in fiscal policy, and international institutions in fiscal policy.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647532']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647559.jsonld | ['Chapter 36 The operation and collapse of fixed exchange rate regimes'] | ['This chapter discusses the operation and collapse of fixed exchange rate regimes. It reports recent research contributions to the understanding of the dynamics of a fixed exchange rate system. These contributions can be placed readily into two categories research on target zones and research on speculative attacks on fixed exchange rate regimes. The chapter briefly discusses the various rationales for selecting a fixed exchange rate system over a floating exchange rate regime. The focus, however, is on the positive economics of fixed exchange rates. This focus is consistent with most of the research in the past decade; given that a target zone or fixed exchange rate system is chosen, researchers have concentrated mainly on determining its dynamic development. Although, as the chapter reports, much empirical research has been done to examine theoretical models, the recent literature is primarily a theoretical one. Most research in this area is based on the simple monetary model of the exchange rate, which does not perform well empirically in the short run. Nevertheless, this literature has had great influence in central banks, given the background of the existence of important target zone systems and of major exchange rate crises in the past decade.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647559'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 36 The operation and collapse of fixed exchange rate regimes']
### Abstract:
['This chapter discusses the operation and collapse of fixed exchange rate regimes. It reports recent research contributions to the understanding of the dynamics of a fixed exchange rate system. These contributions can be placed readily into two categories research on target zones and research on speculative attacks on fixed exchange rate regimes. The chapter briefly discusses the various rationales for selecting a fixed exchange rate system over a floating exchange rate regime. The focus, however, is on the positive economics of fixed exchange rates. This focus is consistent with most of the research in the past decade; given that a target zone or fixed exchange rate system is chosen, researchers have concentrated mainly on determining its dynamic development. Although, as the chapter reports, much empirical research has been done to examine theoretical models, the recent literature is primarily a theoretical one. Most research in this area is based on the simple monetary model of the exchange rate, which does not perform well empirically in the short run. Nevertheless, this literature has had great influence in central banks, given the background of the existence of important target zone systems and of major exchange rate crises in the past decade.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647559']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647567.jsonld | ['Chapter 35 International trade and business cycles'] | ['This chapter discusses the salient features of international trade and business cycles and summarizes the contributions of a particular branch of the literature on open economy macroeconomics. Becasue many macroeconomic time series are nonstationary, the computation of moments requires that the data be transformed to remove the nonstationarity. A commonly used transformation is the linear filter advocated by Hodrick and Prescott. The important properties of this filter are the following: (1) the filter will render stationary any time series that is integrated of order four or less and (2) when applied to quarterly data, the filter acts as a reasonable approximation to a high-pass filter that passes the cycles of frequency eight years or less with the customary value of 1600 for the smoothing parameter. Recently, Baxter and King (1994) proposed a method for measuring business cycle components of models and data through the application of an approximate band-pass filter. The chapter also analyzes the effects of shocks to government spending and tax rates and reviews the literature on multi-good models of international business cycle.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647567'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 35 International trade and business cycles']
### Abstract:
['This chapter discusses the salient features of international trade and business cycles and summarizes the contributions of a particular branch of the literature on open economy macroeconomics. Becasue many macroeconomic time series are nonstationary, the computation of moments requires that the data be transformed to remove the nonstationarity. A commonly used transformation is the linear filter advocated by Hodrick and Prescott. The important properties of this filter are the following: (1) the filter will render stationary any time series that is integrated of order four or less and (2) when applied to quarterly data, the filter acts as a reasonable approximation to a high-pass filter that passes the cycles of frequency eight years or less with the customary value of 1600 for the smoothing parameter. Recently, Baxter and King (1994) proposed a method for measuring business cycle components of models and data through the application of an approximate band-pass filter. The chapter also analyzes the effects of shocks to government spending and tax rates and reviews the literature on multi-good models of international business cycle.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647567']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647583.jsonld | ['Chapter 33 Empirical research on nominal exchange rates'] | ['This chapter presents a critical survey and an interpretation of recent exchange rate research. It focuses on empirical results for exchange rates among major industrialized countries. The expectations of future exchange rate changes are a key determinant of asset demands, and therefore of the current exchange rate. The expectations variable is relatively straightforward in the conventional monetary models; in theoretical terms , it is determined by the rational expectations assumption, while in empirical terms, it is typically measured by the forward discount or interest differential. The standard empirical implementation of rational expectations methodology infers ex ante expectations of investors from ex post changes in the exchange rate. Unexpected changes in monetary policy frequently cause movements in the exchange rate in the direction hypothesized by the sticky-price monetary model. The chapter presents a survey of the work on exchange rate determination in floating rate regimes. It considers evidence across exchange rate regimes and examines the issue of speculative bubbles. It also reviews some relatively new directions in exchange rate research that focus on the micro-structure of foreign exchange markets.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647583'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 33 Empirical research on nominal exchange rates']
### Abstract:
['This chapter presents a critical survey and an interpretation of recent exchange rate research. It focuses on empirical results for exchange rates among major industrialized countries. The expectations of future exchange rate changes are a key determinant of asset demands, and therefore of the current exchange rate. The expectations variable is relatively straightforward in the conventional monetary models; in theoretical terms , it is determined by the rational expectations assumption, while in empirical terms, it is typically measured by the forward discount or interest differential. The standard empirical implementation of rational expectations methodology infers ex ante expectations of investors from ex post changes in the exchange rate. Unexpected changes in monetary policy frequently cause movements in the exchange rate in the direction hypothesized by the sticky-price monetary model. The chapter presents a survey of the work on exchange rate determination in floating rate regimes. It considers evidence across exchange rate regimes and examines the issue of speculative bubbles. It also reviews some relatively new directions in exchange rate research that focus on the micro-structure of foreign exchange markets.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647583']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647591.jsonld | ['Chapter 32 Perspectives on PPP and long-run real exchange rates'] | ['This chapter presents an overview of the long-run determinants of purchasing power parity (PPP). It reviews the huge time series literature testing simple PPP. This area has proven fruitful ground for applying modern methods for dealing with nonstationary and near-nonstationary time series. The chapter traces out the evolution of the literature from naive static tests of PPP to modern unit-root approaches for testing whether real exchange rates are stationary and to cointegration techniquesthe most recent phase of PPP testing. The research on more disaggregated price data is discussed in the chapter, including a nearly two-hundred year data set on commodity prices in England and France during the seventeenth and eighteenth centuries. Aside from providing an extremely long data set, this historical data offers some perspective on the behavior of cross-country relative prices in more modern times. The chapter looks at some possible medium- and long-run determinants of the real exchange rate, particularly the supply-side determinants emphasized in the popular BalassaSamuelson model. It also considers some evidence that positive demand shocks, such as unexpected increases in government spending, lead to medium-run appreciations of the real exchange rate.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647591'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 32 Perspectives on PPP and long-run real exchange rates']
### Abstract:
['This chapter presents an overview of the long-run determinants of purchasing power parity (PPP). It reviews the huge time series literature testing simple PPP. This area has proven fruitful ground for applying modern methods for dealing with nonstationary and near-nonstationary time series. The chapter traces out the evolution of the literature from naive static tests of PPP to modern unit-root approaches for testing whether real exchange rates are stationary and to cointegration techniquesthe most recent phase of PPP testing. The research on more disaggregated price data is discussed in the chapter, including a nearly two-hundred year data set on commodity prices in England and France during the seventeenth and eighteenth centuries. Aside from providing an extremely long data set, this historical data offers some perspective on the behavior of cross-country relative prices in more modern times. The chapter looks at some possible medium- and long-run determinants of the real exchange rate, particularly the supply-side determinants emphasized in the popular BalassaSamuelson model. It also considers some evidence that positive demand shocks, such as unexpected increases in government spending, lead to medium-run appreciations of the real exchange rate.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647591']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647621.jsonld | ['Chapter 29 International rules and institutions for trade policy'] | ['This chapter describes the basic structure of international trade agreements as they exist in practice, explores theoretically the normative consequences of actual and alternative trade agreements, and offers some theoretically-based explanation for the structure of trade agreements. International trade agreements codify attempts by countries to mutually restrain the degree of trade intervention from what might otherwise obtain. Generally, they include three basic elements: substantive obligations; permissible exceptions to those obligations; and enforcement mechanisms. Through the provisions of a trade agreement countries, therefore, typically agree to mutually restrain both their baseline levels of trade intervention and their use of special protection, with the effectiveness of these restraints determined ultimately by the strength of the enforcement mechanisms in place. The chapter describes some of the major themes that characterize the behavior of trade intervention in their presence and discusses why and in what circumstances countries might wish to enter into international trade agreements. It also reviews the literature related to the collection of rules and institutions that define an international trade agreement and explains the issues of enforcement, along with the process of multilateral and bilateral liberalization.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647621'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 29 International rules and institutions for trade policy']
### Abstract:
['This chapter describes the basic structure of international trade agreements as they exist in practice, explores theoretically the normative consequences of actual and alternative trade agreements, and offers some theoretically-based explanation for the structure of trade agreements. International trade agreements codify attempts by countries to mutually restrain the degree of trade intervention from what might otherwise obtain. Generally, they include three basic elements: substantive obligations; permissible exceptions to those obligations; and enforcement mechanisms. Through the provisions of a trade agreement countries, therefore, typically agree to mutually restrain both their baseline levels of trade intervention and their use of special protection, with the effectiveness of these restraints determined ultimately by the strength of the enforcement mechanisms in place. The chapter describes some of the major themes that characterize the behavior of trade intervention in their presence and discusses why and in what circumstances countries might wish to enter into international trade agreements. It also reviews the literature related to the collection of rules and institutions that define an international trade agreement and explains the issues of enforcement, along with the process of multilateral and bilateral liberalization.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647621']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A183164763X.jsonld | ['Chapter 28 Political economy of trade policy'] | ["This chapter discusses the political economy of trade policy. In principle, a political-economy model of trade policy must have four elements. Much of the trade theory is devoted to analyzing the consequences of trade policy for individuals who derive their incomes from different factors of production or sectors. First, it must contain a description of individual preferences over the domain of policy choices available to policymakers. Given an underlying economic model of the HeckscherOhlin or RicardoViner type and the presumption that preferences for policy depend only on self-interest, individuals' policy rankings can be deuced on the basis of their factor endowments or sector-specific skills. Second, the model must contain a description of the way these individual preferences are aggregated and channeled, through pressure groups, political parties, or grass-roots movements, into political demands for a particular policy or another. This step involves a characterization of the modes of political organization, as well as of the forms that political influence takes. The chapter also reviews the choice among alternative trade policy instruments and elaborates the consequences of viewing trade policy from political-economy lenses."] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164763X'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 28 Political economy of trade policy']
### Abstract:
["This chapter discusses the political economy of trade policy. In principle, a political-economy model of trade policy must have four elements. Much of the trade theory is devoted to analyzing the consequences of trade policy for individuals who derive their incomes from different factors of production or sectors. First, it must contain a description of individual preferences over the domain of policy choices available to policymakers. Given an underlying economic model of the HeckscherOhlin or RicardoViner type and the presumption that preferences for policy depend only on self-interest, individuals' policy rankings can be deuced on the basis of their factor endowments or sector-specific skills. Second, the model must contain a description of the way these individual preferences are aggregated and channeled, through pressure groups, political parties, or grass-roots movements, into political demands for a particular policy or another. This step involves a characterization of the modes of political organization, as well as of the forms that political influence takes. The chapter also reviews the choice among alternative trade policy instruments and elaborates the consequences of viewing trade policy from political-economy lenses."]
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164763X']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647648.jsonld | ['Chapter 27 Strategic trade policy'] | ['This chapter focuses on the concept of strategic trade policy. The analysis of strategic trade policy is part of a broader research agenda that has been very active since the beginning of the 1980s. Over this period, international trade economists have sought to incorporate oligopoly and other forms of imperfect competition into the formal analysis of international trade and trade policy so as to make contact with important empirical regularities and policy concerns. The chapter defines strategic trade policy as the trade policy that conditions (or alters) a strategic relationship among firms. This definition implies that the existence of a strategic relationship among firms is a necessary precondition for the application of strategic trade policy. The basic game theoretic structure of strategic trade policy is discussed in the chapter. It also focuses on the third-market model, in which rival oligopolistic exporters from two countries compete only in a third market. The chapter develops the basic strategic export subsidies model in this context, along with some of the more important qualifications and extensions. It presents the reciprocal markets model, in which oligopolistic firms in two countries compete in those two countries. The chapter also reviews some of the major calibrated simulations of strategic trade policy.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647648'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 27 Strategic trade policy']
### Abstract:
['This chapter focuses on the concept of strategic trade policy. The analysis of strategic trade policy is part of a broader research agenda that has been very active since the beginning of the 1980s. Over this period, international trade economists have sought to incorporate oligopoly and other forms of imperfect competition into the formal analysis of international trade and trade policy so as to make contact with important empirical regularities and policy concerns. The chapter defines strategic trade policy as the trade policy that conditions (or alters) a strategic relationship among firms. This definition implies that the existence of a strategic relationship among firms is a necessary precondition for the application of strategic trade policy. The basic game theoretic structure of strategic trade policy is discussed in the chapter. It also focuses on the third-market model, in which rival oligopolistic exporters from two countries compete only in a third market. The chapter develops the basic strategic export subsidies model in this context, along with some of the more important qualifications and extensions. It presents the reciprocal markets model, in which oligopolistic firms in two countries compete in those two countries. The chapter also reviews some of the major calibrated simulations of strategic trade policy.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647648']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647656.jsonld | ['Chapter 26 International trade theory: The evidence'] | ['This chapter focuses on the international trade theory. It discusses the Ricardian and the RicardoViner models. These models point to technological differences as the source of international comparative advantage. A simple Ricardian model has one input, labor, which is assumed to be mobile across the two sectors of the economy, but internationally immobile. The RicardoViner model introduces into the model two additional factors that are sector-specific. This gives curvature to the production possibilities curve and also allows international commerce to affect the distribution of income. Although there is little or no direct empirical support for these simple models, there is nonetheless growing awareness that technological differences are a natural consequence of economic isolation and play a role in the integration process, following an economic liberalization. The chapter provides an overview of the HeckscherOhlin model and discusses the Rybcyzinski theorem and the StolperSamuelson theorem. It also reviews the studies of the HeckscherOhlin model based on cross country comparisons.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647656'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 26 International trade theory: The evidence']
### Abstract:
['This chapter focuses on the international trade theory. It discusses the Ricardian and the RicardoViner models. These models point to technological differences as the source of international comparative advantage. A simple Ricardian model has one input, labor, which is assumed to be mobile across the two sectors of the economy, but internationally immobile. The RicardoViner model introduces into the model two additional factors that are sector-specific. This gives curvature to the production possibilities curve and also allows international commerce to affect the distribution of income. Although there is little or no direct empirical support for these simple models, there is nonetheless growing awareness that technological differences are a natural consequence of economic isolation and play a role in the integration process, following an economic liberalization. The chapter provides an overview of the HeckscherOhlin model and discusses the Rybcyzinski theorem and the StolperSamuelson theorem. It also reviews the studies of the HeckscherOhlin model based on cross country comparisons.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647656']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831647761.jsonld | ['Chapter 26 Optimal economic growth, turnpike theorems and comparative dynamics'] | ['This chapter is concerned with the long-term tendencies of paths of capital accumulation that maximize, in some sense, a utility sum for society over an unbounded time span. However, the structure of the problem is characteristic of all economizing over time whether on the social scale or the scale of the individual or the firm. The mathematical methods that are used are closely allied to the old mathematical discipline, calculus of variations. The chapter discusses that the utility function depends on time, as in the standard theory of the calculus of variations. Also the function to be maximized is the sum of utility functions for each period over the future. It is described as a separable utility function over the sequence of future capital stocks and corresponds to the integral of calculus of variations. As the consumption of one period influences the utility of later consumption, the separability assumption is not exact. The treatment of utility in a period as dependent on initial and terminal stocks is not a restriction because the usual assumptions that make utility depend on consumption and consumption on production and terminal stocks implies that an equivalent utility depending on capital stocks exists. The chapter also discusses that the primary sources of the optimal growth model are aggregate savings programs and capital accumulation programs for an economy, the theorems, and methods of the subject find applications in other areas with increasing frequency.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647761'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 26 Optimal economic growth, turnpike theorems and comparative dynamics']
### Abstract:
['This chapter is concerned with the long-term tendencies of paths of capital accumulation that maximize, in some sense, a utility sum for society over an unbounded time span. However, the structure of the problem is characteristic of all economizing over time whether on the social scale or the scale of the individual or the firm. The mathematical methods that are used are closely allied to the old mathematical discipline, calculus of variations. The chapter discusses that the utility function depends on time, as in the standard theory of the calculus of variations. Also the function to be maximized is the sum of utility functions for each period over the future. It is described as a separable utility function over the sequence of future capital stocks and corresponds to the integral of calculus of variations. As the consumption of one period influences the utility of later consumption, the separability assumption is not exact. The treatment of utility in a period as dependent on initial and terminal stocks is not a restriction because the usual assumptions that make utility depend on consumption and consumption on production and terminal stocks implies that an equivalent utility depending on capital stocks exists. The chapter also discusses that the primary sources of the optimal growth model are aggregate savings programs and capital accumulation programs for an economy, the theorems, and methods of the subject find applications in other areas with increasing frequency.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647761']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A183164777X.jsonld | ['Chapter 25 Positive second-best theory : A brief survey of the theory of ramsey pricing'] | ['This chapter surveys issues in positive second-best theory, specifically the theory of the optimal pricing of goods produced by public firmsthat is, firms whose objective is the maximization of social welfare. It is assumed that these firms, characteristically, display increasing returns to scale. In these situations, first-best optima may require lump-sum taxes and subsidies. In view of the size of the public sector in most industrialized countries, it is difficult to imagine that public activities can be financed without distortionary effects elsewhere in the economy. The chapter assumes perfect possibilities for lump-sum income transfers to focus on the efficiency aspect of optimal pricing. If lump-sum redistribution is impossible, deviations from marginal costs for prices under public control may be motivated by distributional considerationsthat is, the government may want to use its excise tax power to improve the income distribution. The chapter provides general formulation that forms a basis for special cases that are analyzed in more detail subsequently. It also discusses the joint decision for the optimal supply of public goods and the pricing problem. Finally, it analyzes some issues in predation and Ramsey pricing in a dynamic context.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164777X'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 25 Positive second-best theory : A brief survey of the theory of ramsey pricing']
### Abstract:
['This chapter surveys issues in positive second-best theory, specifically the theory of the optimal pricing of goods produced by public firmsthat is, firms whose objective is the maximization of social welfare. It is assumed that these firms, characteristically, display increasing returns to scale. In these situations, first-best optima may require lump-sum taxes and subsidies. In view of the size of the public sector in most industrialized countries, it is difficult to imagine that public activities can be financed without distortionary effects elsewhere in the economy. The chapter assumes perfect possibilities for lump-sum income transfers to focus on the efficiency aspect of optimal pricing. If lump-sum redistribution is impossible, deviations from marginal costs for prices under public control may be motivated by distributional considerationsthat is, the government may want to use its excise tax power to improve the income distribution. The chapter provides general formulation that forms a basis for special cases that are analyzed in more detail subsequently. It also discusses the joint decision for the optimal supply of public goods and the pricing problem. Finally, it analyzes some issues in predation and Ramsey pricing in a dynamic context.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164777X']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831647869.jsonld | ['Chapter 21 The computation of equilibrium prices: An exposition'] | ["A demonstration of the existence of equilibrium prices for a general Walrasian model of competitive behavior necessarily makes use of some variant of Brouwer's fixed point theorem as an essential step. The strategy for calculating equilibrium prices is to render that step constructive by a numerical approximation of the fixed point implied by Brouwer's theorem or one of its alternatives. This chapter provides a brief review of the competitive model and the role of fixed point theorems. For the purpose of computing equilibrium prices, the demand functions are frequently more natural to work with than the underlying utility function or preference relationship. A general equilibrium model is fully specified to obtain a numerical solution. On the consumer side, this is typically done by providing a numerical or algebraic description of the functions. A few examples of some of the more familiar utility functions and their associated demand functions are appropriate at this point. A model of equilibrium involves a number of consuming units, individuals, aggregations of individuals, or countries involved in foreign tradeeach of whom has a stock of assets, prior to production and trade, and each of whose demands are functions of the prevailing prices. The market demand functions specify the total consumer demand, for the goods and services in the economy, as a function of all prices. The chapter also explains that market demand functions cannot be arbitrarily specified if they are derived from individual demand functions by the process of aggregation."] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647869'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 21 The computation of equilibrium prices: An exposition']
### Abstract:
["A demonstration of the existence of equilibrium prices for a general Walrasian model of competitive behavior necessarily makes use of some variant of Brouwer's fixed point theorem as an essential step. The strategy for calculating equilibrium prices is to render that step constructive by a numerical approximation of the fixed point implied by Brouwer's theorem or one of its alternatives. This chapter provides a brief review of the competitive model and the role of fixed point theorems. For the purpose of computing equilibrium prices, the demand functions are frequently more natural to work with than the underlying utility function or preference relationship. A general equilibrium model is fully specified to obtain a numerical solution. On the consumer side, this is typically done by providing a numerical or algebraic description of the functions. A few examples of some of the more familiar utility functions and their associated demand functions are appropriate at this point. A model of equilibrium involves a number of consuming units, individuals, aggregations of individuals, or countries involved in foreign tradeeach of whom has a stock of assets, prior to production and trade, and each of whose demands are functions of the prevailing prices. The market demand functions specify the total consumer demand, for the goods and services in the economy, as a function of all prices. The chapter also explains that market demand functions cannot be arbitrarily specified if they are derived from individual demand functions by the process of aggregation."]
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647869']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831647877.jsonld | ['Chapter 20 Equilibrium under uncertainty'] | ['This chapter reviews several concepts of equilibrium that have appeared in the recent literature on markets and uncertainty and focuses on various theories of equilibrium under uncertainty in a sequence of markets, in the absence of complete forward markets for contingent delivery. A stationary state is in full equilibrium, not merely when demands equal supplies at the currently established prices but also when the same prices continue to rule at all dateswhen prices are constant over time. The test of equilibrium over time is considered to be more important than mere arithmetical sameness or difference, noting that it implies constant prices in a stationary economy but does not necessarily implies constant prices in an economy subject to change. The ArrowDebreu model provides a solid foundation of equilibrium analysis upon which to build. Modern decision theory and probability theory enable dealing more effectively with the issues raised by uncertainty and with the conceptual problems of describing an economy that is both stationary and subject to change.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647877'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 20 Equilibrium under uncertainty']
### Abstract:
['This chapter reviews several concepts of equilibrium that have appeared in the recent literature on markets and uncertainty and focuses on various theories of equilibrium under uncertainty in a sequence of markets, in the absence of complete forward markets for contingent delivery. A stationary state is in full equilibrium, not merely when demands equal supplies at the currently established prices but also when the same prices continue to rule at all dateswhen prices are constant over time. The test of equilibrium over time is considered to be more important than mere arithmetical sameness or difference, noting that it implies constant prices in a stationary economy but does not necessarily implies constant prices in an economy subject to change. The ArrowDebreu model provides a solid foundation of equilibrium analysis upon which to build. Modern decision theory and probability theory enable dealing more effectively with the issues raised by uncertainty and with the conceptual problems of describing an economy that is both stationary and subject to change.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647877']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831647885.jsonld | ['Chapter 19 Temporary general equilibrium theory'] | ["Traditional general equilibrium theory has, for a long time, studied an economic model that is essentially static, where the agent's expectations are self-fulfilling and the equilibrium is achieved solely by the price system. The chapter presents the conceptual framework underlying temporary equilibrium models. This chapter discusses the central role played by an agent's expectations in his or her decision-making process. This model is the microeconomic foundation of the whole theory. A few models using the temporary competitive equilibrium method are also studied in the chapter. It is postulated that prices move fast enough in each period to match supply and demand. The first problem studied is the issue of the existence of an equilibrium in asset markets that is very important in any theory of financial markets. In the framework of a simple model, a necessary and sufficient condition for the existence of a competitive equilibrium in asset markets is some partial agreement among economic agents concerning expected future spot prices of these assets. The chapter studies the temporary equilibrium with the quantity rationing method and to the possible contributions of this approach to the theory of employment and inflation. The basic axiom of this approach is that in the short run, quantities adjust infinitely faster than prices. One is thus led to study a model where prices are temporarily fixed in each period and equilibrium is achieved by quantity rationing. The chapter also presents an evaluation of the equilibrium concepts used in this area."] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647885'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 19 Temporary general equilibrium theory']
### Abstract:
["Traditional general equilibrium theory has, for a long time, studied an economic model that is essentially static, where the agent's expectations are self-fulfilling and the equilibrium is achieved solely by the price system. The chapter presents the conceptual framework underlying temporary equilibrium models. This chapter discusses the central role played by an agent's expectations in his or her decision-making process. This model is the microeconomic foundation of the whole theory. A few models using the temporary competitive equilibrium method are also studied in the chapter. It is postulated that prices move fast enough in each period to match supply and demand. The first problem studied is the issue of the existence of an equilibrium in asset markets that is very important in any theory of financial markets. In the framework of a simple model, a necessary and sufficient condition for the existence of a competitive equilibrium in asset markets is some partial agreement among economic agents concerning expected future spot prices of these assets. The chapter studies the temporary equilibrium with the quantity rationing method and to the possible contributions of this approach to the theory of employment and inflation. The basic axiom of this approach is that in the short run, quantities adjust infinitely faster than prices. One is thus led to study a model where prices are temporarily fixed in each period and equilibrium is achieved by quantity rationing. The chapter also presents an evaluation of the equilibrium concepts used in this area."]
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647885']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831647915.jsonld | ['Chapter 16 Stability'] | ['The chapter is concerned with endogenous processes operating in an economy that brings equilibrium; the most famous and most discussed is the law of demand and supply. If, at prevailing market signals, there is a positive excess demand in a market price, it will rise; if there is a negative excess demand, it will fall. In a partial equilibrium framework when all other prices are held fixed, it seemed that this process would bring about equilibrium provided only that the excess demand in this market was a diminishing function of its price. The chapter discusses that there is a large class of economies that have unstable equilibria under the most popular form of the price mechanism. The chapter discusses the ArrowDebreu specifications in which goods are distinguished by physical characteristics, location, date of delivery, and state of nature. It is a commonplace that many of these goods lack markets in actual economies. It is also clear that many planned excess demands are not public knowledge and that one cannot sensibly retain the traditional price adjustment schema. An alternative is to study a sequence of short period equilibriaa procedure familiar from the theory of growth. The aim is to study convergence to long-run equilibrium whether in a deterministic or in a stochastic setting. Expectations and their formation are central to this kind of approach once durable goods and production lags are included. One is then concerned with convergence to rational expectation equilibrium.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647915'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 16 Stability']
### Abstract:
['The chapter is concerned with endogenous processes operating in an economy that brings equilibrium; the most famous and most discussed is the law of demand and supply. If, at prevailing market signals, there is a positive excess demand in a market price, it will rise; if there is a negative excess demand, it will fall. In a partial equilibrium framework when all other prices are held fixed, it seemed that this process would bring about equilibrium provided only that the excess demand in this market was a diminishing function of its price. The chapter discusses that there is a large class of economies that have unstable equilibria under the most popular form of the price mechanism. The chapter discusses the ArrowDebreu specifications in which goods are distinguished by physical characteristics, location, date of delivery, and state of nature. It is a commonplace that many of these goods lack markets in actual economies. It is also clear that many planned excess demands are not public knowledge and that one cannot sensibly retain the traditional price adjustment schema. An alternative is to study a sequence of short period equilibriaa procedure familiar from the theory of growth. The aim is to study convergence to long-run equilibrium whether in a deterministic or in a stochastic setting. Expectations and their formation are central to this kind of approach once durable goods and production lags are included. One is then concerned with convergence to rational expectation equilibrium.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647915']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831647923.jsonld | ['Chapter 15 Existence of competitive equilibrium'] | ['This chapter discusses that the mathematical model of a competitive economy conceived as an attempt to explain the state of equilibrium reached by a large number of small agents interacting through markets. Four distinct, but closely related, approaches to the existence problem are recognized. At first, proofs of existence of an economic equilibrium were uniformly obtained by application of a fixed-point theorem of the Brouwer type or Kakutani type or by analogous arguments. This approach, which has remained of central importance to the present, is the subject of the chapter. Second, in the past decade, efficient algorithms of a combinatorial nature for the computation of an approximate economic equilibrium were developed. Third, recently, the theory of the fixed-point index of a map and the degree theory of maps were used to establish the existence of an economic equilibrium, and finally a differential process was proposed whose generic convergence to an economic equilibrium provides an alternative constructive solution of the existence problem.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647923'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 15 Existence of competitive equilibrium']
### Abstract:
['This chapter discusses that the mathematical model of a competitive economy conceived as an attempt to explain the state of equilibrium reached by a large number of small agents interacting through markets. Four distinct, but closely related, approaches to the existence problem are recognized. At first, proofs of existence of an economic equilibrium were uniformly obtained by application of a fixed-point theorem of the Brouwer type or Kakutani type or by analogous arguments. This approach, which has remained of central importance to the present, is the subject of the chapter. Second, in the past decade, efficient algorithms of a combinatorial nature for the computation of an approximate economic equilibrium were developed. Third, recently, the theory of the fixed-point index of a map and the degree theory of maps were used to establish the existence of an economic equilibrium, and finally a differential process was proposed whose generic convergence to an economic equilibrium provides an alternative constructive solution of the existence problem.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647923']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A183164794X.jsonld | ['Chapter 13 On the microeconomic theory of investment under uncertainty'] | ['This chapter describes investment theory as the study of the individual behavior of households and economic organizations in the allocation of their resources to the available investment opportunities. For the purposes of investment theory, economic organizations are characterized as being members of one of two groups: business firms that hold as assets the physical means of production for the economy and finance their production decisions by issuing financial claims or securities and financial intermediaries that hold financial claims as assets and finance these assets by issuing securities. Individuals or households are assumed to invest primarily in securities and, therefore, invest only indirectly in physical assets. The markets in which these securities are traded are called the capital markets. The natural starting point for the development of investment theory is to derive the investment behavior of individuals. It is traditional in economic theory to take the existence of households and their tastes as exogenous to the theory. However, this tradition does not extend to economic organizations and institutions. They are regarded as existing primarily because of the functions they serve instead of functioning primarily because they exist.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164794X'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 13 On the microeconomic theory of investment under uncertainty']
### Abstract:
['This chapter describes investment theory as the study of the individual behavior of households and economic organizations in the allocation of their resources to the available investment opportunities. For the purposes of investment theory, economic organizations are characterized as being members of one of two groups: business firms that hold as assets the physical means of production for the economy and finance their production decisions by issuing financial claims or securities and financial intermediaries that hold financial claims as assets and finance these assets by issuing securities. Individuals or households are assumed to invest primarily in securities and, therefore, invest only indirectly in physical assets. The markets in which these securities are traded are called the capital markets. The natural starting point for the development of investment theory is to derive the investment behavior of individuals. It is traditional in economic theory to take the existence of households and their tastes as exogenous to the theory. However, this tradition does not extend to economic organizations and institutions. They are regarded as existing primarily because of the functions they serve instead of functioning primarily because they exist.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164794X']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831647966.jsonld | ['Chapter 11 Oligopoly theory'] | ["The oligopoly theory usually refers to the partial equilibrium study of markets in which the demand side is competitive, while the supply side is neither monopolized nor competitive. It is exclusively concerned with single period models. The two models that are mainly discussed are Cournot's and a model based on Chamberlin. In Cournot's model, it is assumed that the products of the firms are perfect substitutes and each firm decides the output levels with price being determined in the market. The Chamberlinian model allows for imperfect substitutability among the outputs of the firms, and each firm is assumed to name prices for their products. The chapter also presents some of the basic structure for the models of multi-period oligopoly. The time structure of none of these models is explicit; however, none of them makes sense when interpreted as strictly single-period models. Thus, for the best understanding of them, it is necessary to augment them by making the time relations explicit and by making an appropriate reformulation of the firm's objective functions. The chapter also examines various models in which the time structure is explicit and the firms seek to maximize discounted profit streams. The chapter also discusses models with entry and exit of firms."] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647966'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 11 Oligopoly theory']
### Abstract:
["The oligopoly theory usually refers to the partial equilibrium study of markets in which the demand side is competitive, while the supply side is neither monopolized nor competitive. It is exclusively concerned with single period models. The two models that are mainly discussed are Cournot's and a model based on Chamberlin. In Cournot's model, it is assumed that the products of the firms are perfect substitutes and each firm decides the output levels with price being determined in the market. The Chamberlinian model allows for imperfect substitutability among the outputs of the firms, and each firm is assumed to name prices for their products. The chapter also presents some of the basic structure for the models of multi-period oligopoly. The time structure of none of these models is explicit; however, none of them makes sense when interpreted as strictly single-period models. Thus, for the best understanding of them, it is necessary to augment them by making the time relations explicit and by making an appropriate reformulation of the firm's objective functions. The chapter also examines various models in which the time structure is explicit and the firms seek to maximize discounted profit streams. The chapter also discusses models with entry and exit of firms."]
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647966']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648180.jsonld | ['Chapter 39 Non-standard analysis with applications to economics'] | ['This chapter presents an introduction to nonstandard analysis and surveys its applications in mathematical economics. Nonstandard analysis is a mathematical technique, which has been widely used in diverse areas in pure and applied mathematics, including probability theory, mathematical physics, and functional analysis. It is used to formalize most areas of modern mathematics, including real and complex analysis, measure theory, probability theory, functional analysis, and point set topology; algebra is less amenable to nonstandard treatments, but even there significant applications have been found. The primary goal is to provide a careful development of nonstandard methodology in sufficient detail to allow using it in diverse areas in mathematical economics. This requires a careful study of the nonstandard treatment of real analysis, measure theory, and topological spaces. To accommodate this extended treatment of methodology the survey of work to date using nonstandard methods in mathematical economics is briefly reviewed in the chapter.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648180'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 39 Non-standard analysis with applications to economics']
### Abstract:
['This chapter presents an introduction to nonstandard analysis and surveys its applications in mathematical economics. Nonstandard analysis is a mathematical technique, which has been widely used in diverse areas in pure and applied mathematics, including probability theory, mathematical physics, and functional analysis. It is used to formalize most areas of modern mathematics, including real and complex analysis, measure theory, probability theory, functional analysis, and point set topology; algebra is less amenable to nonstandard treatments, but even there significant applications have been found. The primary goal is to provide a careful development of nonstandard methodology in sufficient detail to allow using it in diverse areas in mathematical economics. This requires a careful study of the nonstandard treatment of real analysis, measure theory, and topological spaces. To accommodate this extended treatment of methodology the survey of work to date using nonstandard methods in mathematical economics is briefly reviewed in the chapter.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648180']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648202.jsonld | ['Chapter 37 Monopolistic competition'] | ['Monopolistic competition is defined as a situation of imperfect competition with some important features: (a) the products sold are differentiated; (b) firms themselves set the price of these goods; (c) the number of sellers is large and each firm disregards the effects of its price decisions on the actions of its competitors; (d) entry is unrestricted and proceeds until profits are reduced to zero or the smallest possible number consistent with the fact that the number of firms is an integer. The chapter discusses that the theory of monopolistic competition poses important and difficult conceptual problems. It focuses on models with a generally large number of price setters and indicates in the conclusion a number of alternative presentations. It introduces a basic model and studies problems of existence of an equilibrium and endogenous product differentiation and finally discusses macroeconomic applications.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648202'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 37 Monopolistic competition']
### Abstract:
['Monopolistic competition is defined as a situation of imperfect competition with some important features: (a) the products sold are differentiated; (b) firms themselves set the price of these goods; (c) the number of sellers is large and each firm disregards the effects of its price decisions on the actions of its competitors; (d) entry is unrestricted and proceeds until profits are reduced to zero or the smallest possible number consistent with the fact that the number of firms is an integer. The chapter discusses that the theory of monopolistic competition poses important and difficult conceptual problems. It focuses on models with a generally large number of price setters and indicates in the conclusion a number of alternative presentations. It introduces a basic model and studies problems of existence of an equilibrium and endogenous product differentiation and finally discusses macroeconomic applications.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648202']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648210.jsonld | ['Chapter 36 Equilibrium analysis with non-convex technologies'] | ["This chapter surveys the state of the art regarding the ArrowDebreu model of a Walrasian economy, consisting of a finite number of agents and commodities where one assumes perfect information, complete markets, no market imperfections, such as externalities, public goods, or non-convexities in consumption or production; firms are price-taking profit maximizers, and households are price-taking utility maximizers. In such a world, the basic properties of the classical ArrowDebreu model consist of the existence of competitive equilibria, the first and second welfare theorems, the computation of equilibria, and the local uniqueness and finiteness of equilibria. The chapter discusses that it is useful to adopt Walras' original conception of a competitive equilibrium as a solution to a (nonlinear) system of equations. Convexity plays an essential role in Scarf's analysis, both in the derivation of the market excess demand function from optimizing behavior on the part of agents and in the existence of a fixed-point that follows from Brouwer's theorem. Scarf's algorithm and its generalizations are the primary means of doing comparative statics in general equilibrium models. Computable general equilibrium models have replaced activity analysis and inputoutput analysis as the basic method of analyzing tax policy in national economies or trade policies among nations."] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648210'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 36 Equilibrium analysis with non-convex technologies']
### Abstract:
["This chapter surveys the state of the art regarding the ArrowDebreu model of a Walrasian economy, consisting of a finite number of agents and commodities where one assumes perfect information, complete markets, no market imperfections, such as externalities, public goods, or non-convexities in consumption or production; firms are price-taking profit maximizers, and households are price-taking utility maximizers. In such a world, the basic properties of the classical ArrowDebreu model consist of the existence of competitive equilibria, the first and second welfare theorems, the computation of equilibria, and the local uniqueness and finiteness of equilibria. The chapter discusses that it is useful to adopt Walras' original conception of a competitive equilibrium as a solution to a (nonlinear) system of equations. Convexity plays an essential role in Scarf's analysis, both in the derivation of the market excess demand function from optimizing behavior on the part of agents and in the existence of a fixed-point that follows from Brouwer's theorem. Scarf's algorithm and its generalizations are the primary means of doing comparative statics in general equilibrium models. Computable general equilibrium models have replaced activity analysis and inputoutput analysis as the basic method of analyzing tax policy in national economies or trade policies among nations."]
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648210']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648229.jsonld | ['Chapter 35 Overlapping generations'] | ['Competitive equilibria in economies of overlapping generations are different from competitive equilibria in economies that have extended over finitely many periods, finite economies for short. These differences concern the properties of competitive equilibria, such as existence, optimality and determinacy or local uniqueness; and the phenomena compatible with competitive equilibria, such as net aggregate debt or fiat money with a positive price. The chapter discusses that all the variants of the model of overlapping generations allow for infinity of time periods and hence for infinitely many commodities. This infinity of time periods and commodities is not a mathematical curiosity, but rather is central to the economic significance of the model. Consider a pay-as-you-go system of social security. In economic models in which the rationality of individuals is presumed to be unlimited, the fact that no new generation would appear at some point in the very distant future would also lead to the immediate break down of the social security system. In an economy of overlapping generations, the temporal and demographic structure is explicit, which evidently enriches the study of problems such as the transfer of value over time. It also allows the claim that the inability of individuals to trade directly with individuals whose consumption and endowment spans commence after they have perished is the distinguishing feature of economies of overlapping generations.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648229'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 35 Overlapping generations']
### Abstract:
['Competitive equilibria in economies of overlapping generations are different from competitive equilibria in economies that have extended over finitely many periods, finite economies for short. These differences concern the properties of competitive equilibria, such as existence, optimality and determinacy or local uniqueness; and the phenomena compatible with competitive equilibria, such as net aggregate debt or fiat money with a positive price. The chapter discusses that all the variants of the model of overlapping generations allow for infinity of time periods and hence for infinitely many commodities. This infinity of time periods and commodities is not a mathematical curiosity, but rather is central to the economic significance of the model. Consider a pay-as-you-go system of social security. In economic models in which the rationality of individuals is presumed to be unlimited, the fact that no new generation would appear at some point in the very distant future would also lead to the immediate break down of the social security system. In an economy of overlapping generations, the temporal and demographic structure is explicit, which evidently enriches the study of problems such as the transfer of value over time. It also allows the claim that the inability of individuals to trade directly with individuals whose consumption and endowment spans commence after they have perished is the distinguishing feature of economies of overlapping generations.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648229']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648237.jsonld | ['Chapter 34 Equilibrium theory in infinite dimensional spaces'] | ['This chapter summarizes the account of the extension of the classical general equilibrium model to an infinite dimensional setting. The classical finite dimensional theory, the commodity space is the canonical finite dimensional linear space R n . By contrast, there is no canonical infinite dimensional linear space. Different economic applications require models involving different infinite dimensional linear spaces. The mathematical discipline of functional analysis has already been well developed as a tool for the abstract study of linear spaces. The chapter follows the methodology of functional analysis and attacks the existence problem. Advantage of this method is that it yields general results, capable of application in a wide variety of specific models. An important line of research in classical general equilibrium theory has been the relationship of the core to the set of competitive allocations. In the infinite dimensional setting, an extensive body of work has been developed, which centers around the infinite-dimensional version of the DebreuScarf core convergence theorem.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648237'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 34 Equilibrium theory in infinite dimensional spaces']
### Abstract:
['This chapter summarizes the account of the extension of the classical general equilibrium model to an infinite dimensional setting. The classical finite dimensional theory, the commodity space is the canonical finite dimensional linear space R n . By contrast, there is no canonical infinite dimensional linear space. Different economic applications require models involving different infinite dimensional linear spaces. The mathematical discipline of functional analysis has already been well developed as a tool for the abstract study of linear spaces. The chapter follows the methodology of functional analysis and attacks the existence problem. Advantage of this method is that it yields general results, capable of application in a wide variety of specific models. An important line of research in classical general equilibrium theory has been the relationship of the core to the set of competitive allocations. In the infinite dimensional setting, an extensive body of work has been developed, which centers around the infinite-dimensional version of the DebreuScarf core convergence theorem.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648237']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648253.jsonld | ['Chapter 32 Sunspot equilibria in sequential markets models'] | ['Equilibrium with rational expectations is a central construct of modern economic theory. The chapter studies surveys, which are primarily aimed at assessing the properties and relevance of this construct in a general equilibrium framework; in particular, they are related to the issue of multiplicity of rational expectation equilibria. The viewpoint discussed in the chapter is associated with the so-called concept of sunspot equilibrium. It focuses on aspects of general equilibrium with rational expectations that have been given a central role in recent literature. It presents the problem of sunspot equilibria in the broader perspective. It also discusses an example of sunspot equilibrium and a simple economic systemnamely, a sequential economy with infinite horizon and time independent structure. Furthermore, this economy is one step forward looking and has no predetermined variable.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648253'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 32 Sunspot equilibria in sequential markets models']
### Abstract:
['Equilibrium with rational expectations is a central construct of modern economic theory. The chapter studies surveys, which are primarily aimed at assessing the properties and relevance of this construct in a general equilibrium framework; in particular, they are related to the issue of multiplicity of rational expectation equilibria. The viewpoint discussed in the chapter is associated with the so-called concept of sunspot equilibrium. It focuses on aspects of general equilibrium with rational expectations that have been given a central role in recent literature. It presents the problem of sunspot equilibria in the broader perspective. It also discusses an example of sunspot equilibrium and a simple economic systemnamely, a sequential economy with infinite horizon and time independent structure. Furthermore, this economy is one step forward looking and has no predetermined variable.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648253']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648261.jsonld | ['Chapter 31 The theory of value in security markets'] | ['General equilibrium theory is applied wholesale to obtain a theory of value for security markets. The modern theory of value for security markets extends general equilibrium theory in various ways: (1) it explicitly treats general multiperiod trading opportunities under uncertainty and in incomplete markets; (2) it investigates, in remarkable depth, implications of the law of one pricethat is, of arbitrage-free prices; (3) to represent security returns in convenient and testable ways, it places strong restrictions on preferences and exploits a great deal of probability theory, especially the theories of Markov processes and stochastic integration, separately and together. The chapter discusses that as financial market theory grows, it laps over the boundaries of the general equilibrium paradigm to focus on the process of price formation. The microstructure of security markets has come under increasing scrutiny; the theory of specialist market makers, for example, is gradually being filled out. The need to address asymmetric information, in particular, has led to strategic models of investment behavior. Despite the diverse aims of financial economic theory, the chapter summarizes the developments in finance that rest or build on general equilibrium theory, emphasizing the valuation of financial assets.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648261'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 31 The theory of value in security markets']
### Abstract:
['General equilibrium theory is applied wholesale to obtain a theory of value for security markets. The modern theory of value for security markets extends general equilibrium theory in various ways: (1) it explicitly treats general multiperiod trading opportunities under uncertainty and in incomplete markets; (2) it investigates, in remarkable depth, implications of the law of one pricethat is, of arbitrage-free prices; (3) to represent security returns in convenient and testable ways, it places strong restrictions on preferences and exploits a great deal of probability theory, especially the theories of Markov processes and stochastic integration, separately and together. The chapter discusses that as financial market theory grows, it laps over the boundaries of the general equilibrium paradigm to focus on the process of price formation. The microstructure of security markets has come under increasing scrutiny; the theory of specialist market makers, for example, is gradually being filled out. The need to address asymmetric information, in particular, has led to strategic models of investment behavior. Despite the diverse aims of financial economic theory, the chapter summarizes the developments in finance that rest or build on general equilibrium theory, emphasizing the valuation of financial assets.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648261']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A183164827X.jsonld | ['Chapter 30 Incomplete markets'] | ['This chapter analyzes the GEI model of an exchange economy in which one finds that when markets are incomplete, changing the financial instruments, or when nominal assets are present, changing the money, supply leads to a change in the equilibrium allocation; in short, financial instruments and money are nonneutral. The chapter presents a systematic analysis of the concepts and mathematical techniques needed for a proper understanding of the behavior of GEI equilibria. While real assets are inflation proof, nominal assets are not. The economic consequence is the striking property exhibited by the GEI model with nominal assets: indeterminacy if the model is left unchanged and nonneutrality of money if a role is introduced for money as a medium of exchange. The chapter presents an analysis of the GEI model of a production economy: it is the theory that encounters great difficulties. When markets are incomplete each firm faces a public goods problem with respect to its constituency of shareholders (and employees) for which there is no evident solution. The chapter also presents a reasonably coherent view of the current status of the theory of incomplete markets.'] | ['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164827X'] | ['Wirtschaftsmathematik', 'Ökonometrie'] | Document
### Title: ['Chapter 30 Incomplete markets']
### Abstract:
['This chapter analyzes the GEI model of an exchange economy in which one finds that when markets are incomplete, changing the financial instruments, or when nominal assets are present, changing the money, supply leads to a change in the equilibrium allocation; in short, financial instruments and money are nonneutral. The chapter presents a systematic analysis of the concepts and mathematical techniques needed for a proper understanding of the behavior of GEI equilibria. While real assets are inflation proof, nominal assets are not. The economic consequence is the striking property exhibited by the GEI model with nominal assets: indeterminacy if the model is left unchanged and nonneutrality of money if a role is introduced for money as a medium of exchange. The chapter presents an analysis of the GEI model of a production economy: it is the theory that encounters great difficulties. When markets are incomplete each firm faces a public goods problem with respect to its constituency of shareholders (and employees) for which there is no evident solution. The chapter also presents a reasonably coherent view of the current status of the theory of incomplete markets.']
### GND ID:
['gnd:4066472-7', 'gnd:4132280-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164827X']
### GND class:
['Wirtschaftsmathematik', 'Ökonometrie']
<|eot_id|> |
3A1831648369.jsonld | ['Chapter 19. Human Resource Management and Productivity'] | ['In this chapter we examine the relationship between Human Resource Management (HRM) and productivity. HRM includes incentive pay (individual and group) as well as many non-pay aspects of the employment relationship such as matching (hiring and firing) and work organization (e.g. teams, autonomy). We place HRM more generally within the literature on management practices and productivity. We start with some facts on levels and trends of both HRM and productivity and the main economic theories of HRM. We look at some of the determinants of HRMrisk, competition, ownership and regulation. The largest section analyzes the impact of HRM on productivity emphasizing issues of methodology, data and results (from micro-econometric studies). We conclude briefly with suggestions of avenues for future frontier work.'] | ['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648369'] | ['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 19. Human Resource Management and Productivity']
### Abstract:
['In this chapter we examine the relationship between Human Resource Management (HRM) and productivity. HRM includes incentive pay (individual and group) as well as many non-pay aspects of the employment relationship such as matching (hiring and firing) and work organization (e.g. teams, autonomy). We place HRM more generally within the literature on management practices and productivity. We start with some facts on levels and trends of both HRM and productivity and the main economic theories of HRM. We look at some of the determinants of HRMrisk, competition, ownership and regulation. The largest section analyzes the impact of HRM on productivity emphasizing issues of methodology, data and results (from micro-econometric studies). We conclude briefly with suggestions of avenues for future frontier work.']
### GND ID:
['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648369']
### GND class:
['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
3A1831648385.jsonld | ['Chapter 17. New Perspectives on Gender'] | ['Psychological and socio-psychological factors are now more commonly discussed as possible explanations for gender differences in labor market outcomes. We first describe the (mainly) laboratory-based evidence regarding gender differences in risk preferences, in attitudes towards competition, in the strength of other-regarding preferences, and in attitudes towards negotiation. We then review the research that has tried to quantify the relevance of these factors in explaining gender differences in labor market outcomes outside of the laboratory setting. We also describe recent research on the relationship between social and gender identity norms and womens labor market choices and outcomes, as well as on the role of child-rearing practices in explaining gender identity norms. Finally, we report on some recent work documenting puzzling trends in womens well-being and discuss possible explanations for these trends, including identity considerations. We conclude with suggestions for future research.'] | ['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648385'] | ['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie'] | Document
### Title: ['Chapter 17. New Perspectives on Gender']
### Abstract:
['Psychological and socio-psychological factors are now more commonly discussed as possible explanations for gender differences in labor market outcomes. We first describe the (mainly) laboratory-based evidence regarding gender differences in risk preferences, in attitudes towards competition, in the strength of other-regarding preferences, and in attitudes towards negotiation. We then review the research that has tried to quantify the relevance of these factors in explaining gender differences in labor market outcomes outside of the laboratory setting. We also describe recent research on the relationship between social and gender identity norms and womens labor market choices and outcomes, as well as on the role of child-rearing practices in explaining gender identity norms. Finally, we report on some recent work documenting puzzling trends in womens well-being and discuss possible explanations for these trends, including identity considerations. We conclude with suggestions for future research.']
### GND ID:
['gnd:4002733-8', 'gnd:4127364-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648385']
### GND class:
['Arbeitsmarkt', 'Beschäftigungstheorie', 'Arbeitsökonomie']
<|eot_id|> |
Subsets and Splits